Cal. CORP § 18615
This is the official text of Cal. CORP § 18615, 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 director, officer, or agent of a nonprofit association is not liable for a contractual obligation of the association unless one of the following conditions is satisfied:
(a) The director, officer, or agent expressly assumes responsibility for the obligation in a signed writing that specifically identifies the obligation assumed.
(b) The director, officer, or agent executes the contract without disclosing that the director, officer, or agent is acting on behalf of the association.
(c) The director, officer, or agent executes the contract without authority to execute the contract.
(a) The director, officer, or agent expressly assumes responsibility for the obligation in a signed writing that specifically identifies the obligation assumed.
(b) The director, officer, or agent executes the contract without disclosing that the director, officer, or agent is acting on behalf of the association.
(c) The director, officer, or agent executes the contract without authority to execute the contract.
Status: in_force · Read it on the official government site
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