2016 California Code
Civil Code - CIV
DIVISION 4 - GENERAL PROVISIONS
PART 5.3 - Commercial and Industrial Common Interest Developments
CHAPTER 1 - General Provisions
ARTICLE 2 - Definitions
Section 6566.
6566. Stock cooperative means a development in which a corporation is formed or availed of, primarily for the purpose of holding title to, either in fee simple or for a term of years, improved real property, and all or substantially all of the shareholders of the corporation receive a right of exclusive occupancy in a portion of the real property, title to which is held by the corporation. The owners interest in the corporation, whether evidenced by a share of stock, a certificate of membership, or otherwise, shall be deemed to be an interest in a common interest development and a real estate development for purposes of subdivision (f) of Section 25100 of the Corporations Code.
(Added by Stats. 2013, Ch. 605, Sec. 21. Effective January 1, 2014.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
