California § 204.5. 204.5. (Added by Stats. 1987, Ch. 1203, Sec. 1.5.)

California Statutes

§ 204.5. — 204.5. (Added by Stats. 1987, Ch. 1203, Sec. 1.5.)

California § 204.5.

JurisdictionCalifornia

Code CORPCorporations Code - CORP

Div.1.

Title 1.DIVISION 1. GENERAL CORPORATION LAW

Ch. 2.CHAPTER 2. Organization and Bylaws

This text of California § 204.5. (204.5. (Added by Stats. 1987, Ch. 1203, Sec. 1.5.)) 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 § 204.5. (2026).

Text

(a)If the articles of a corporation include a provision reading substantially as follows: “The liability of the directors of the corporation for monetary damages shall be eliminated to the fullest extent permissible under California law”; the corporation shall be considered to have adopted a provision as authorized by paragraph (10) of subdivision (a) of Section 204 and more specific wording shall not be required.

(b)This section shall not be construed as setting forth the exclusive method of adopting an article provision as authorized by paragraph (10) of subdivision (a) of Section 204.

(c)This section shall not change the otherwise applicable standards or duties to make full and fair disclosure to shareholders when approval of such a provision is sought.

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
If the articles of a corporation include a provision reading substantially as follows: “The liability of the directors of the corporation for monetary damages shall be eliminated to the fullest extent permissible under California law”; the corporation shall be considered to have adopted a provision as authorized by paragraph (10) of subdivision (a) of Section 204 and more specific wording shall not be required.
(b)
This section shall not be construed as setting forth the exclusive method of adopting an article provision as authorized by
paragraph (10) of subdivision (a) of Section 204.
(c)
This section shall not change the otherwise applicable standards or duties to make full and fair disclosure to shareholders when approval of such a provision is sought.

Legislative History

Added by Stats. 1987, Ch. 1203, Sec. 1.5. Effective September 27, 1987.

Nearby Sections

2

§ 204.

204. (Repealed and added by Stats. 2018, Ch. 889, Sec. 2.)

§ 204.5.

204.5. (Added by Stats. 1987, Ch. 1203, Sec. 1.5.)

View on official source ↗

Cite This Page — Counsel Stack

Bluebook (online)

California § 204.5., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/CORP/204.5..