§ 22003
46 words·~1 min read·
/ca/corporations-code/22003A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purposes of this part every director of a joint stock association is deemed to possess such knowledge of the affairs of his association as to enable him to determine whether any act, proceeding, or omission of its directors is a violation of this part.