GroundRules
FAC § 54238
Where this section sits in the code
- Food and Agricultural Code - FAC
- DIVISION 20. PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS [54001. - 57700.]
- CHAPTER 1. Nonprofit Cooperative Associations [54001. - 54294.]
- ARTICLE 9. Members [54231. - 54239.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON