Cal. Corp. Code § 12444

Current through the 2023 Legislative Session.

Section 12444 - No derogation of rights or remedies of creditor or member against promoter, member, director, officer, or corporation because of fraud or illegality

Nothing in this part shall be construed as in derogation of any rights or remedies which any creditor or member may have against any promoter, member, director, officer or the corporation because of participation in any fraud or illegality practiced upon such creditor or member by any such person or by the corporation or in derogation of any rights which the corporation may have by rescission, cancellation or otherwise because of any fraud or illegality practiced on it by any such person.

Ca. Corp. Code § 12444

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.