California Corporations Code

§ 2282

CORP § 2282 Effective Jan 1, 2018Div. 1 · Title 1 · Ch. 22.5

Statute text

(a)When an aggrieved person obtains a final judgment in a court of competent jurisdiction against a corporation based upon the corporation’s fraud, misrepresentation, or deceit, made with intent to defraud, or obtains a criminal restitution order against an agent based upon the agent's fraud, misrepresentation, or deceit, made with intent to defraud while acting in the agent’s capacity as the corporation’s officer or director, the aggrieved person may, upon the judgment becoming final and after diligent collection efforts are made, file an application with the Secretary of State for payment from the fund, within the limitations specified in Section 2289, for the amount unpaid on the judgment that represents the awarded actual and direct loss, any awarded compensatory damages, and awarded costs to the claimant in the final judgment, excluding punitive damages.

(b)The application shall be delivered in person or by certified mail to the Secretary of State not later than 18 months after the judgment has become final.

(c)The application shall be made on a form prescribed by the Secretary of State and shall include each of the following:

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Legislative history

Amended by Stats. 2017, Ch. 561, Sec. 25. (AB 1516) Effective January 1, 2018.