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TITLE 1. CORPORATIONS 100-14631›DIVISION 2. NONPROFIT CORPORATION LAW 5000-10841›PART 2. NONPROFIT PUBLIC BENEFIT CORPORATIONS 5110-6910›CHAPTER 3. Members 5310-5354›ARTICLE 5. Rights and Obligations of Members and Creditors 5350-5354

§ 5354

California Corporations Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Added by Stats. 1978, Ch. 567.)

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California Corporations Code

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