Statute · California Civil Code
Cal. Civ. Code § 817.4 — Housing Cooperatives and Housing Cooperative Trusts
Cal. Civ. Code § 817.4
- Type
- Statute
- Source
- California Civil Code
- Jurisdiction
- California
- Date
- 2010-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) In any action instituted on or after January 1, 2010, against a board of directors and its members based upon a breach of corporate or fiduciary duties or a failure to comply with the requirements of this chapter, a prevailing plaintiff may recover reasonable attorney’s fees and costs.
Citator
Cal. Civ. Code § 817.4 — Housing Cooperatives and Housing Cooperative Trusts is in force in the current edition of the Code, and nothing recorded condemns it.
(a) In any action instituted on or after January 1, 2010, against a board of directors and its members based upon a breach of corporate or fiduciary duties or a failure to comply with the requirements of this chapter, a prevailing plaintiff may recover reasonable attorney’s fees and costs.
(b) If an organization formed under this chapter uses public funds, it shall not use any corporate funds to avoid compliance with this chapter or to pursue dissolution if the intent or outcome is for some or all of the members to receive any payment in excess of the transfer value to which he or she is entitled pursuant to subdivision (b) of Section 817.