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Code · California · Corporations Code

§ 12454.5

52 words·~1 min read·/ca/corporations-code/12454-5

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(a)A worker cooperative may create an indivisible reserves account that shall not be distributed to members.
(b)Funds in the indivisible reserves account shall only derive from non-patronage-sourced income, in a manner provided in the articles or bylaws, or by the board, and shall be used as capital for the cooperative.
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