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HomeCorporations CodeCh. 4§ 13304 Member Expulsion Property Appraisal

§ 13304 Member Expulsion Property Appraisal

Corporations Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 13304 Member Expulsion Property Appraisal

This law says that if a member is kicked out of a group and there are no rules about what happens next, the group's leaders must fairly decide how much money the kicked-out member should get for their share in the group. This money must be paid within one year.

Key Takeaways

  • •If you get kicked out of a group and there are no rules about what happens, the group's leaders must decide a fair price for your share.
  • •The group must pay you this fair price within one year.
  • •This law only applies if the group's own rules don't already say what happens when someone is kicked out.

Example

Imagine you are part of a local club that owns a community garden. The club doesn't have rules about what happens if someone is kicked out. If you get kicked out, the club's leaders must decide how much your share of the garden is worth and pay you that amount within a year.

The club's leaders will look at what you contributed to the garden and decide a fair price for your share. They have to pay you this amount within one year of kicking you out.

How to Calculate

Not applicable

  1. Not applicable

Not applicable

Result: Not applicable

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

Official Source
View on CA.gov

§ 13304 Member Expulsion Property Appraisal

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. (Added by Stats. 1953, Ch. 207.)

Last verified: January 10, 2026

Key Terms

expulsionproperty interestboard of directorsone year

Related Statutes

  • § 13303 Member Meeting Location
  • § 28210 Licensee Governing Body Requirements
  • § 28211 Annual Licensee Board Meetings
  • § 28212 Investment Advisor Contract Approval
  • § 5341 Membership Discipline Procedures

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Corporations Code. Section 13304.
View Official Source