Statute · California Corporations Code
Cal. Corp. Code § 8812 — Crimes and Penalties
Cal. Corp. Code § 8812
- Type
- Statute
- Source
- California Corporations Code
- Jurisdiction
- California
- Date
- 2011-04-04
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Any director of any corporation who concurs in any vote or act of the directors of the corporation or any of them, knowingly and with dishonest or fraudulent purpose, to make any distribution of assets, except in the case and in the manner allowed by this part, either with the design of…
Citator
Cal. Corp. Code § 8812 — Crimes and Penalties is in force in the current edition of the Code, and nothing recorded condemns it.
Any director of any corporation who concurs in any vote or act of the directors of the corporation or any of them, knowingly and with dishonest or fraudulent purpose, to make any distribution of assets, except in the case and in the manner allowed by this part, either with the design of defrauding creditors or members or of giving a false appearance to the value of the membership and thereby defrauding purchasers is guilty of a crime. Each such crime is punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, or by a fine of not more than one thousand dollars ($1,000) or imprisonment in a county jail for not more than one year, or by both that fine and imprisonment.