Statute · California Business and Professions Code
Cal. Bus. & Prof. Code § 26225.8 — Bylaws
Cal. Bus. & Prof. Code § 26225.8
- Type
- Statute
- Source
- California Business and Professions Code
- Jurisdiction
- California
- Date
- 2017-06-27
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The bylaws may prescribe the amount of dividends, if any, that may be declared on the stock or membership capital. To the extent that dividends are payable out of the excess of association income over association expenses attributable to business transacted with or for members, dividends shall…
Citator
Cal. Bus. & Prof. Code § 26225.8 — Bylaws is in force in the current edition of the Code, and nothing recorded condemns it.
The bylaws may prescribe the amount of dividends, if any, that may be declared on the stock or membership capital. To the extent that dividends are payable out of the excess of association income over association expenses attributable to business transacted with or for members, dividends shall not exceed 8 percent per annum.