ARTICLE 5. Rights and Obligations of Members and Creditors [5350. - 5354.]

Article 5 added by Stats. 1978, Ch. 567.

§§ 5350–5354 · 5 sections

• § 5350 (a) A member of a corporation is not, as such, personally liable for the debts, liabilities, or obligations of the corporation. (b) No person is liable for any…
• § 5351 A corporation may levy dues, assessments or fees upon its members pursuant to its articles or bylaws, but a member upon learning of them may avoid liability…
• § 5352 (a) No action shall be brought by or on behalf of any creditor to reach and apply the liability, if any, of a member to the corporation to pay the amount due…
• § 5353 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,…
• § 5354 A person holding a membership as executor, administrator, guardian, trustee, receiver or in any representative or fiduciary capacity is not personally liable…