Statute · California Food and Agricultural Code
Cal. Food & Agric. Code § 54238 — Members
Cal. Food & Agric. Code § 54238
- Type
- Statute
- Source
- California Food and Agricultural Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value of the common stock, as conclusively determined by the board of directors, and pay for it in cash within…
Citator
Cal. Food & Agric. Code § 54238 — Members is in force in the current edition of the Code, and nothing recorded condemns it.
The association may, at any time, as specified in the bylaws, except when the debts of the association exceed 50 percent of its assets, buy in or purchase its common stock at the book value of the common stock, as conclusively determined by the board of directors, and pay for it in cash within one year thereafter.