{"data":{"id":"us-ca/fac-54201","jurisdiction":"us-ca","citation":"FAC § 54201","heading":"","body":"An association is not subject in any manner to the terms of the Corporate Securities Law, Division 1 (commencing with Section 25000), Title 4 of the Corporations Code, and any association may issue its membership certificates or stock or other securities as provided in this chapter without the necessity of any qualification under that law.","path":["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 8. Financial Provisions [54201. - 54204.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"397579bd7ca9bc6ca9d3228320d3311e44a5c2d7072cf0d70042dcb2bf5e5e08","source_id":"us-ca","stale":false,"prev":"us-ca/fac-54182","next":"us-ca/fac-54202"},"notice":"GroundRules: Original legal text. Not legal advice."}