TITLE 1. CORPORATIONS 100-14631›DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES 12000-14631›PART 2. COOPERATIVE CORPORATIONS 12200-12704›CHAPTER 3. Members 12400-12446›ARTICLE 5. Rights and Obligations of Members and Creditors 12440-12446

§ 12442

California Corporations Code · 2020-11 edition · updated 2026-10-04 · California

A person holding a membership as pledgee or 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 amount owing to the corporation by the member, because the membership is so held, but the estate and funds in the hands of such fiduciary or representative are liable and the membership subject to sale therefor.

(Amended by Stats. 1983, Ch. 792, Sec. 22.)

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California Corporations Code

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