California Statutes
§ 12442. — 12442. (Amended by Stats. 1983, Ch. 792, Sec. 22.)
California § 12442.
JurisdictionCalifornia
Code CORPCorporations 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
This text of California § 12442. (12442. (Amended by Stats. 1983, Ch. 792, Sec. 22.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Corporations Code - CORP Code § 12442. (2026).
Text
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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Legislative History
Amended by Stats. 1983, Ch. 792, Sec. 22.
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Bluebook (online)
California § 12442., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/CORP/12442..