Cannabis Cooperative AssociationsPowers
Section § 26227
This law allows an association to take part in a wide range of activities related to cannabis. This includes things like growing, processing, and storing cannabis products that its members produce. It also covers helping members with buying or using supplies, machines, or equipment, and even financing these activities. However, they must have a valid license for doing these activities.
Section § 26227.1
This law allows an association to borrow money without any limits on the amount of debt it can take on. It also permits the association to lend money to its members.
Section § 26227.2
This law says that an association can represent one or more of its members when taking part in certain activities mentioned in other sections. It's like having someone act on your behalf for specific tasks.
Section § 26227.3
This section allows a cannabis-related association to buy, own, and control shares or bonds of another similar association. They can sell or transfer these shares, and even use them to guarantee payments, such as dividends or interest. Essentially, it's about financial transactions between associations involved in cannabis-related activities, like growing or processing.
Section § 26227.4
This law allows an association to set aside funds, known as reserves, and invest these funds in bonds or other types of property, as long as they follow the rules outlined in their bylaws.
Section § 26227.5
This law allows an association to purchase, own, and use any type of property it needs to run its business effectively.
Section § 26227.6
This law specifies that an association, like a homeowners' association, has the power to charge fees or assessments as detailed in its own rules, known as bylaws.
Section § 26227.7
This law gives associations the freedom to do anything needed or appropriate to achieve their goals, as long as it benefits the association. They can make contracts, hold rights and powers necessary for their activities, and enjoy all rights granted to regular corporations in the state, unless those rights contradict specific rules in this chapter.
Section § 26227.75
This law allows an association to use its facilities for any purpose as long as the money earned helps lower operating costs for its members. However, the value of any cannabis products or services provided to nonmembers must not surpass what is offered to members within the same time frame.
Section § 26227.8
This law allows an organization, referred to as an association, to be involved in various activities related to cannabis, like growing or processing it, and to join or invest in other similar associations. Furthermore, if there are two or more such associations, they can merge or consolidate into one entity, and this should be done following the general state laws applicable to corporations.
Section § 26227.9
This section allows a cannabis association to partner with other cannabis cooperatives or associations in California. They can create agreements to share resources, such as personnel or methods, to conduct their businesses more efficiently. These partnerships can be formalized through resolutions by their boards of directors or through mutual agreements.