California Corporations Code 14009 – (a) Each corporation shall have provisions establishing a …
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(a) Each corporation shall have provisions establishing a grievance procedure for employees, clients, or potential clients, to appeal a decision or obtain redress of an action done by the staff or loan committee of the corporation. The procedures shall be established in writing during the probationary period of a new corporation.
(b) The bylaws of the corporation shall authorize the removal of officers only by a two-thirds vote of the directors of the corporation.
Terms Used In California Corporations Code 14009
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- 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.
(Added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.)