Corporations Code section 5312

No person may hold more than one membership, and no fractional memberships may be held, provided, however, that:

(a)

Two or more persons may have an indivisible interest in a single membership when authorized by, and in such manner or under the circumstances prescribed by, the articles or bylaws subject to Section 5612; and

(b)

If the articles or bylaws provide for classes of membership and if the articles or bylaws permit a person to be a member of more than one class, a person may hold a membership in one or more classes.

Source: Section 5312, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=CORP§ionNum=5312.­ (updated Jan. 1, 1979; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 5312's source at ca​.gov