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Current as of January 01, 2025 | Updated by Findlaw Staff
The directors of a foreign corporation transacting intrastate business are liable to the corporation, its shareholders, creditors, receiver, liquidator or trustee in bankruptcy for the making of unauthorized dividends, purchase of shares or distribution of assets or false certificates, reports or public notices or other violation of official duty according to any applicable laws of the state or place of incorporation or organization, whether committed or done in this state or elsewhere. Such liability may be enforced in the courts of this state.
Cite this article: FindLaw.com - California Code, Corporations Code - CORP § 2116 - last updated January 01, 2025 | https://codes.findlaw.com/ca/corporations-code/corp-sect-2116/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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