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Current as of January 01, 2025 | Updated by Findlaw Staff
No person may hold more than one membership, and no fractional memberships may be held, provided, however, that:
(a) Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the articles or bylaws subject to Section 5612; and
(b) If the articles or bylaws provide for classes of membership and if the articles or bylaws permit a person to be a member of more than one class, a person may hold a membership in one or more classes.
Cite this article: FindLaw.com - California Code, Corporations Code - CORP § 5312 - last updated January 01, 2025 | https://codes.findlaw.com/ca/corporations-code/corp-sect-5312/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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