§ 7350
81 words·~1 min read·
/ca/corporations-code/7350A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A member of a corporation is not, as such, personally liable for the debts, liabilities, or obligations of the corporation.
(b)No person is liable for any obligation arising from membership unless the person was admitted to membership upon the person’s application or with the person’s consent.
(c)The ownership of an interest in real property, when a condition of its ownership is membership in a corporation, shall be considered consent to such membership for the purpose of this section.