Statute · California Corporations Code
Cal. Corp. Code § 2293.1 — Victims of Corporate Fraud Compensation Fund
Cal. Corp. Code § 2293.1
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 2017-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
If the Secretary of State pays from the fund any amount in settlement of a claim or toward satisfaction of a final judgment against a corporation or its agent, the corporation or its agent shall be required to pay to the fund the amount paid plus interest at the prevailing legal rate applicable…
Citator
Cal. Corp. Code § 2293.1 — Victims of Corporate Fraud Compensation Fund is in force in the current edition of the Code, and nothing recorded condemns it.
If the Secretary of State pays from the fund any amount in settlement of a claim or toward satisfaction of a final judgment against a corporation or its agent, the corporation or its agent shall be required to pay to the fund the amount paid plus interest at the prevailing legal rate applicable to a judgment rendered in any court of this state, within 30 calendar days of the date that the Secretary of State provided notice of the payment of the award or compromise. If the corporation or its agent fails to make the required payment to the fund within the required time, the corporation shall be suspended until the payment is made. A discharge in bankruptcy shall not relieve a corporation or its agent from the penalties and disabilities provided in this chapter.