California Corporations Code 2293 – When the Secretary of State has paid from the fund any sum to the …
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When the Secretary of State has paid from the fund any sum to the claimant, the Secretary of State shall be subrogated to all of the rights of the claimant and the claimant shall assign all of his or her right, title, and interest in the judgment to the Secretary of State and any amount and interest so recovered by the Secretary of State on the judgment shall be deposited in the fund.
(Added by Stats. 2012, Ch. 564, Sec. 4. (SB 1058) Effective January 1, 2013.)
Terms Used In California Corporations Code 2293
- Claimant: means an aggrieved person who resides in the state at the time of the fraud and who submits an application pursuant to this chapter. See California Corporations Code 2281
- Fund: means the Victims of Corporate Fraud Compensation Fund created by Section 2280. See California Corporations Code 2281
- State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77