Nonprofit Mutual Benefit Corp. Law › CHAPTER 10. Mergers [8010 - 8022] › ARTICLE 1. Merger [8010 - 8019.1]

(Amended by Stats. 2022, Ch. 452, Sec. 56. (SB 1498) Effective January 1, 2023.)
Text current as of August 17, 2026, per California Legislative Information.

Each membership of the same class of any constituent corporation (other than the cancellation of memberships held by a surviving corporation or its parent or a wholly owned subsidiary of either in a constituent corporation) shall be treated equally with respect to any distribution of cash, property, rights or securities unless: (a) all members of the class consent or (b) the Commissioner of Financial Protection and Innovation has approved the terms and conditions of the transaction and the fairness of the terms pursuant to Section 25142.

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.