Ca_Law

statute | California

Business and Professions Code - BPC - BPC § 26229.4

  • UIDca_leginfo_codes:bpc-26229-4
  • CitationBusiness and Professions Code - BPC - BPC § 26229.4
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, bu

Text

An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but the retention as security does not affect the member’s right to vote.

Retrieval chunks

  • #1 | Business and Professions Code - BPC - BPC § 26229.4

    An association shall not issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but the retention as security does not af…