California Corporations Code 18605 – A member, director, or agent of a nonprofit association is not liable …
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A member, director, or agent of a nonprofit association is not liable for a debt, obligation, or liability of the association solely by reason of being a member, director, officer, or agent.
(Added by Stats. 2004, Ch. 178, Sec. 11. Effective January 1, 2005.)
Terms Used In California Corporations Code 18605
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.