§ 7525. — 7525. (Amended by Stats. 1996, Ch. 589, Sec. 35.)

California § 7525.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 2.
• Title 1.: DIVISION 2. NONPROFIT CORPORATION LAW
• Part 3.: PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS
• Ch. 5.: CHAPTER 5. Meetings and Voting
• Art. 2.: ARTICLE 2. Additional Provisions Relating to Election of Directors

Text

(a)
This section shall apply to corporations publishing or mailing materials on behalf of any nominee in connection with procedures for the nomination and election of directors.
(b)
Neither the corporation, nor its agents, officers, directors, or employees, may be held criminally liable, liable for any negligence (active or passive) or otherwise liable for damages to any person on account of any material which is supplied by a nominee for director and which it mails or publishes
in procedures intended to comply with Section 7520 or pursuant to Section 7523 or 7524 but the nominee on whose behalf such material was published or mailed shall be liable and shall indemnify and hold the corporation, its agents, officers, directors, and employees and each of them harmless from all demands, costs, including reasonable legal fees and expenses, claims, damages and causes of action arising out of such material or any such mailing or publication.
(c)
Nothing in this section shall prevent a corporation or any of its agents, officers, directors, or employees from seeking a court order providing that the corporation need not mail or publish material tendered by or on behalf of a nominee under this article on the ground the material will expose the moving party to liability.

Legislative History

Amended by Stats. 1996, Ch. 589, Sec. 35. Effective January 1, 1997.