California Corporations Code 29553 – No action shall be maintained to enforce any liability under Section …
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No action shall be maintained to enforce any liability under Section 29552 unless brought before the expiration of four years after the act or transaction constituting the violation or within one year after the discovery by the plaintiff of the facts constituting the violation, whichever occurs last.
(Added by Stats. 1990, Ch. 969, Sec. 2.)
Terms Used In California Corporations Code 29553
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Plaintiff: The person who files the complaint in a civil lawsuit.