Food and Agricultural Code section 54237


The bylaws shall prohibit the transfer of the common stock or membership certificates of the associations to any person that is not qualified to be a shareholder or member as specified in this chapter. Such restrictions shall be printed upon every certificate of stock or membership which is subject to them.

Source: Section 54237, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FAC§ionNum=54237.­ (updated Jan. 1, 1967; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 54237's source at ca​.gov