California Corporations Code

§ 29544

CORP § 29544 Effective Jan 1, 2004Div. 4.5 · Title 4 · Ch. 5

Statute text

(a)Any person who willfully violates any provision of this law, or who willfully violates any rule or order under this law, shall be liable for a civil penalty not to exceed twenty-five thousand dollars ($25,000) for each violation, which shall be assessed and recovered in a civil action brought in the name of the people of the State of California by the commissioner in any court of competent jurisdiction. The penalty collected shall be paid to the State Corporations Fund to be used for the support of this division.

(b)As applied to the penalties for acts in violation of this division, the remedies provided by this section and by other sections of this division are not exclusive, and may be sought and employed in any combination to enforce this division.

(c)No action shall be maintained to enforce any liability created under subdivision (a) unless brought before the expiration of four years after the act or transaction constituting the violation.

Legislative history

Amended by Stats. 2003, Ch. 876, Sec. 3. Effective January 1, 2004.