Ca_Law

statute | California

Corporations Code - CORP - CORP § 5312

  • UIDca_leginfo_codes:corp-5312
  • CitationCorporations Code - CORP - CORP § 5312
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

No person may hold more than one membership, and no fractional memberships may be held, provided, however, that: (a) Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the ar

Text

No person may hold more than one membership, and no fractional memberships may be held, provided, however, that:
(a)
Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the articles or bylaws subject to Section 5612; and
(b)
If the articles or bylaws provide for classes of membership and if the articles or bylaws permit a person to be a member of more than one class, a person may hold a membership in one or more classes.

Retrieval chunks

  • #1 | Corporations Code - CORP - CORP § 5312

    No person may hold more than one membership, and no fractional memberships may be held, provided, however, that: (a) Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the articles or bylaws subject to Section 5…