California § 7332 - A corporation may provide in its articles for one or more classes of memberships
Full text of California Public Contract Code - PCC § 7332 — A corporation may provide in its articles for one or more classes of memberships, with citation guidance and answers to common questions.
§ 7332. A corporation may provide in its articles for one or more classes of memberships
(a) A corporation may provide in its articles for one or more classes of memberships which are redeemable, in whole or in part, at the option of the corporation, or the member for such consideration within such time or upon the happening of one or more specified events and upon such terms and conditions as are stated in the articles. However, no membership shall actually be redeemed if prohibited by Chapter 4 (commencing with Section 7410). (b) Nothing in this section shall prevent a corporation from creating a sinking fund or similar provision for, or entering into an agreement for, the redemption or purchase of its memberships to the extent permitted by Chapter 4 (commencing with Section 7410).
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 7332
What does Public Contract Code - PCC § 7332 cover?
Section 7332 ("A corporation may provide in its articles for one or more classes of memberships") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 7332?
A common citation format is "Public Contract Code - PCC § 7332" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 7332 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.