Cal. CORP § 18270
This is the official text of Cal. CORP § 18270, part of California’s Corporations Code — governs the formation and operation of corporations, LLCs, and partnerships, and regulates securities.
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Official statutory text
(a) A judgment creditor of a member, director, officer, or agent of an unincorporated association may not levy execution against the assets of the member, director, officer, or agent to satisfy a judgment based on a claim against the unincorporated association unless a judgment based on the same claim has been obtained against the unincorporated association and any of the following conditions is satisfied:
(1) A writ of execution on the judgment against the unincorporated association has been returned unsatisfied in whole or in part.
(2) The unincorporated association is a debtor in bankruptcy.
(3) The member, director, officer, or agent has agreed that the creditor need not exhaust the assets of the unincorporated association.
(4) A court grants permission to the judgment creditor to levy execution against the assets of a member, director, officer, or agent based on a finding that the assets of the unincorporated association subject to execution are clearly insufficient to satisfy the judgment, that exhaustion of the assets of the unincorporated association is excessively burdensome, or that the grant of permission is an appropriate exercise of the court’s equitable powers.
(b) Nothing in this section affects the right of a judgment creditor to levy execution against the assets of a member, director, officer, or agent of an unincorporated association if the claim against the member, director, officer, or agent is not based on a claim against the unincorporated association.
(1) A writ of execution on the judgment against the unincorporated association has been returned unsatisfied in whole or in part.
(2) The unincorporated association is a debtor in bankruptcy.
(3) The member, director, officer, or agent has agreed that the creditor need not exhaust the assets of the unincorporated association.
(4) A court grants permission to the judgment creditor to levy execution against the assets of a member, director, officer, or agent based on a finding that the assets of the unincorporated association subject to execution are clearly insufficient to satisfy the judgment, that exhaustion of the assets of the unincorporated association is excessively burdensome, or that the grant of permission is an appropriate exercise of the court’s equitable powers.
(b) Nothing in this section affects the right of a judgment creditor to levy execution against the assets of a member, director, officer, or agent of an unincorporated association if the claim against the member, director, officer, or agent is not based on a claim against the unincorporated association.
Status: in_force · Read it on the official government site
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