§ 12240 Corporate Membership Certificates

Corporations Code·California

AI SummaryVerified

This law explains what a 'membership certificate' is. It's a paper that shows you own part of a company.

Key Takeaways

•A membership certificate is like a receipt that shows you own part of a company.
•It’s a way to prove you have a share in the business.
•This only applies to certain types of companies, not all.

Example

If you buy part of a small business, like a local store, you might get a membership certificate.

This paper proves you own a piece of that business.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 12240 Corporate Membership Certificates

“Membership certificate,” as used in this part, means a document evidencing a proprietary interest in a corporation. (Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.)

Last verified: January 10, 2026

Key Terms

Membership certificate proprietary interest corporation

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 12240.

Key Takeaways

Example

Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References