California Corporations Code

§ 5710

CORP § 5710Div. 2 · Title 1 · Part 2 · Ch. 7

Statute text

(a)Subdivisions (c) through (f) notwithstanding, no motion to require a bond shall be granted in an action brought by 100 members or the authorized number (Section 5036), whichever is less.

(b)No action may be instituted or maintained in the right of any corporation by any member of such corporation unless both of the following conditions exist:

(1)The plaintiff alleges in the complaint that plaintiff was a member at the time of the transaction or any part thereof of which plaintiff complains; and

…

Legislative history

Amended by Stats. 1982, Ch. 517, Sec. 187.