Statute · California Corporations Code
Cal. Corp. Code § 5354 — Rights and Obligations of Members and Creditors
Cal. Corp. Code § 5354
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A person holding a membership as executor, administrator, guardian, trustee, receiver or in any representative or fiduciary capacity is not personally liable for any unpaid balance of the purchase price of the membership, or for any amounts owing to the corporation by the member, because the…
Citator
Cal. Corp. Code § 5354 — Rights and Obligations of Members and Creditors is in force in the current edition of the Code, and nothing recorded condemns it.
A person holding a membership as executor, administrator, guardian, trustee, receiver or in any representative or fiduciary capacity is not personally liable for any unpaid balance of the purchase price of the membership, or for any amounts owing to the corporation by the member, because the membership is so held; but the estate and funds in the hands of such fiduciary are liable therefor.