(a) A corporation organized under this part may elect to be governed as a worker cooperative by making the following statement in its articles of incorporation or its amended articles of incorporation:
“This corporation is a worker cooperative corporation organized under the Cooperative Corporation Law.”
(b) A corporation that makes the election to be governed as a worker cooperative, unless expressly exempted, shall be governed by all the provisions of this part.
(Added by Stats. 2015, Ch. 192, Sec. 12. (AB 816) Effective January 1, 2016.)
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