DecisionDepot
California legal research

California Corporations Code

§ 14023

CORP § 14023 Effective Oct 4, 2013Div. 3 · Title 1 · Part 5 · Ch. 1 · Art. 7

Statute text

View on leginfo.ca.gov
It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a corporation, or who is an employee of the California Infrastructure and Economic Development Bank to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.

Legislative history

Repealed and added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.

Source: California Corporations Code § 14023 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.