TITLE 1. CORPORATIONS 100-14631›DIVISION 3. CORPORATIONS FOR SPECIFIC PURPOSES 12000-14631›PART 5. SMALL BUSINESSES 14000-14024›CHAPTER 1. California Small Business Financial Development Corporations 14000-14024›ARTICLE 7. Conflict of Interest 14022-14024

§ 14023

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

It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a corporation, or who is an employee of the California Infrastructure and Economic Development Bank to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.

(Repealed and added by Stats. 2013, Ch. 537, Sec. 2. (AB 1247) Effective October 4, 2013.)

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California Corporations Code

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