California Corporations Code
§ 413
CORP § 413Div. 1 · Title 1 · Ch. 4
Statute text
View on leginfo.ca.govA person holding shares as pledgee, executor, administrator, guardian, conservator, trustee, receiver or in any representative or fiduciary capacity is not personally liable for any unpaid balance of the subscription price of the shares because the shares are so held but the estate and funds in the hands of such fiduciary or representative are liable and the shares are subject to sale therefor.
Legislative history
Amended by Stats. 1979, Ch. 730.