California Law (Last Updated: March 4, 2014) |
Corporations Code - CORP |
Title 1. CORPORATIONS |
Division 2. NONPROFIT CORPORATION LAW |
Part 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS |
Chapter 18. Crimes and Penalties |
Section 8811.
Latest version.
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Any promoter, director, or officer of a corporation who knowingly and willfully issues or consents to the issuance of memberships or membership certificates with intent to defraud present or future members or creditors is guilty of a misdemeanor punishable by a fine of not more than one thousand dollars ($1,000) or by imprisonment in county jail for not more than one year or by both such fine and imprisonment.
(Added by Stats. 1978, Ch. 567.)