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California Corporations Code

§ 13304

CORP § 13304Div. 3 · Title 1 · Part 3 · Ch. 4

Statute text

View on leginfo.ca.gov
In case of the expulsion of a member, and where the by-laws do not provide any procedure or penalty, the board of directors shall equitably and conclusively appraise his property interest in the association and shall fix the amount thereof in money, which shall be paid to him within one year after such expulsion.

Legislative history

Added by Stats. 1953, Ch. 207.

Source: California Corporations Code § 13304 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.