California · Public Utilities Code - PUC
PUC §3152: If an association issues nonpar value stock, the issuance of that stock shall be governed by the terms of all general laws which cover the issuance of nonpar value stock in domestic corporations.
What this law says, in plain English
When an association issues nonpar value stock, state laws governing nonpar value stock issuance in domestic corporations apply to that issuance.
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