Nonprofit Mutual Benefit Corp. Law › CHAPTER 4. Distributions [7410 - 7420] › ARTICLE 1. Limitations [7410 - 7414]

(Added by Stats. 1978, Ch. 567.)
Text current as of August 17, 2026, per California Legislative Information.

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.

The text of the Nonprofit Mutual Benefit Corporation Law is provided for reference and convenience only, from the California Legislative Information website (leginfo.legislature.ca.gov). It is not legal advice, and the official version of California statutes is published by the state. Statutes may have been amended after the “current as of” date shown above. Consult counsel regarding the application of any statute to your association.