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
A "stock cooperative" includes a limited equity housing cooperative which is a stock cooperative that
meets the criteria of Section 817.
(Added by Stats. 2012, Ch. 180, Sec. 2. (AB 805) Effective January 1, 2013. Operative January 1, 2014, by Sec. 3 of Ch. 180.)