California Corporations Code

§ 12671

CORP § 12671Div. 3 · Title 1 · Part 2 · Ch. 18

Statute text

Any promoter, director, or officer of a corporation who knowingly and willfully issues or consents to the issuance of memberships or membership certificates with intent to defraud present or future members or creditors is guilty of a misdemeanor punishable by a fine of not more than one thousand dollars ($1,000) or by imprisonment in county jail for not more than one year or by both such fine and imprisonment.

Legislative history

Added by Stats. 1982, Ch. 1625, Sec. 3. Operative January 1, 1984.