California Statutes
§ 14023. — 14023. (Repealed and added by Stats. 2013, Ch. 537, Sec. 2.)
California·Code CORP Corporations Code - CORP·Div. 3.·Title 1. DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES·Part 5. PART 5. SMALL BUSINESSES·Ch. 1. CHAPTER 1. California Small Business Financial Development Corporations·Art. 7. ARTICLE 7. Conflict of Interest
It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a corporation, or who is an employee of the California Infrastructure and Economic Development Bank to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 14023. (14023. (Repealed and added by Stats. 2013, Ch. 537, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.