Corporations Code section 14023

It shall be unlawful for a member of the bank board or for the executive director, program manager, or any person who is an officer or director of a corporation, or who is an employee of the California Infrastructure and Economic Development Bank to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.

Source: Section 14023, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=14023. (updated Oct. 4, 2013; accessed Sep. 14, 2026).

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Sep. 14, 2026

§ 14023's source at ca.gov

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Location: https://california.public.law/codes/corporations_code_section_14023

Original Source: Section 14023, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=14023. (last accessed May 12, 2025).