TITLE 1. CORPORATIONS 100-14631›DIVISION 2. NONPROFIT CORPORATION LAW 5000-10841›PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS 7110-8910›CHAPTER 3. Members 7310-7354›ARTICLE 5. Rights and Obligations of Members and Creditors 7350-7354
§ 7354
California Corporations Code · 2018-11 edition · updated 2026-10-04 · California
Nothing in this part shall be construed as in derogation of any rights or remedies which any creditor or member may have against any promoter, member, director, officer or the corporation because of participation in any fraud or illegality practiced upon such creditor or member by any such person or by the corporation in connection with the issue or sale of memberships or securities or in derogation of any rights which the corporation may have by rescission, cancellation or otherwise because of any fraud or illegality practiced on it by any such person in connection with the issue or sale of memberships or securities.
(Added by Stats. 1978, Ch. 567.)
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