Statute · California Corporations Code
Cal. Corp. Code § 12445 — Rights and Obligations of Members and Creditors
Cal. Corp. Code § 12445
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The articles or bylaws shall prescribe:
Citator
Cal. Corp. Code § 12445 — Rights and Obligations of Members and Creditors is in force in the current edition of the Code, and nothing recorded condemns it.
The articles or bylaws shall prescribe:
(a) The manner of determining each member’s share of the capital of the corporation contributed by the members and, if repayable, the time and manner for its repayment; and
(b) The manner of determining the value, if any, of the member’s interest in the corporation apart from contributed capital and the time and manner of the corporation’s purchase, if required, of such interest from a terminated member.