California Financial Code

§ 18444

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

FIN § 18444Div. 7 · Ch. 6

Statute text

View on leginfo.ca.gov

Any officer or director held liable under Section 18443, who satisfies such liability is entitled to contribution from any other officer or director who participates in authorizing, making or allowing any such loan or guaranty, and is subrogated to all rights of the corporation against the borrower or principal obligor.

Legislative history

Added by Stats. 1976, Ch. 964.