Nothing in this chapter prohibits additional restrictions upon the purchase or redemption of a membership by provision in a corporation‘s articles or bylaws or agreement entered into by the corporation.

(Added by Stats. 1978, Ch. 567.)

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Terms Used In California Corporations Code 7414

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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