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Code · California · Corporations Code

§ 13304

54 words·~1 min read·/ca/corporations-code/13304

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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.
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