ARTICLE 9. Suits [1450. - 1453.]

Article 9 enacted by Stats. 1935, Ch. 145.

§§ 1450–1453 · 4 sections

• § 1450 The exchange may sue or be sued in its own name as in the case of an individual. Any judgment rendered against the exchange shall be binding upon each…
• § 1451 No action shall lie against any subscriber, upon any obligation made or incurred in the name of the exchange, until a final judgment has been obtained against…
• § 1452 Process may be served upon the commissioner as provided in Article 1 (commencing with Section 12919) of Chapter 2 of Division 3.
• § 1453 A judgment rendered in any case where service of process has been made on the commissioner shall be binding against the subscribers as their interests appear.