California Statutes
§ 12442. — 12442. (Amended by Stats. 1983, Ch. 792, Sec. 22.)
California·Code CORP Corporations Code - CORP·Div. 3.·Title 1. DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES·Part 2. PART 2. COOPERATIVE CORPORATIONS·Ch. 3. CHAPTER 3. Members·Art. 5. ARTICLE 5. Rights and Obligations of Members and Creditors
A person holding a membership as pledgee or a membership as executor, administrator, guardian, trustee, receiver or in any representative or fiduciary capacity is not personally liable for any unpaid balance of the purchase price of the membership, or for any amount owing to the corporation by the member, because the membership is so held, but the estate and funds in the hands of such fiduciary or representative are liable and the membership subject to sale therefor.
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California § 12442. (12442. (Amended by Stats. 1983, Ch. 792, Sec. 22.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1983, Ch. 792, Sec. 22.