Cal. FIN § 8501
This is the official text of Cal. FIN § 8501, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
No director of a federal association shall be liable for monetary damages to the federal association, its stockholders or members, based upon the laws of this state, to the extent that the stockholders, or in case of a mutual federal association the members of the federal association, adopt a resolution limiting liability. The resolution shall not eliminate or limit the liability of directors for any acts or omissions or transactions from which directors of a corporation may not be relieved of liability as set forth in the exception to paragraph (10) of Section 204 of the Corporations Code.
Status: in_force · Read it on the official government site
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