Civil Code - CIV
DIVISION 4. GENERAL PROVISIONS [3274 - 9566]
( Heading of Division 4 amended by Stats. 1988, Ch. 160, Sec. 16. ) PART 5.3. Commercial and Industrial Common Interest Developments [6500 - 6876]
( Part 5.3 added by Stats. 2013, Ch. 605, Sec. 21. ) CHAPTER 1. General Provisions [6500 - 6566]
( Chapter 1 added by Stats. 2013, Ch. 605, Sec. 21. ) ARTICLE 2. Definitions [6526 - 6566]
( Article 2 added by Stats. 2013, Ch. 605, Sec. 21. ) 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. (SB 752) Effective January 1, 2014.)