§ 20.08.200. Stock cooperative.

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A stock cooperative is a corporation as defined in Section 11003.2 of the California Business and Professions Code formed or utilized primarily for the purpose of holding title to improve real property in which all or substantially all shareholders have a right of exclusive occupancy of a portion of the real property, which right is transferable only with the transfer of shares of stock in the corporation.

(Ord. C-5975 § 1 (part), 1983)

                    
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