California Corporations Code 5527 – An action challenging the validity of any election, appointment or …
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An action challenging the validity of any election, appointment or removal of a director or directors must be commenced within nine months after the election, appointment or removal. If no such action is commenced, in the absence of fraud, any election, appointment or removal of a director is conclusively presumed valid nine months thereafter.
(Amended by Stats. 1981, Ch. 587, Sec. 14.)
Terms Used In California Corporations Code 5527
- directors: means natural persons, designated in the articles or bylaws or elected by the incorporators, and their successors and natural persons designated, elected, or appointed by any other name or title to act as members of the governing body of the corporation. See California Corporations Code 5047
- Fraud: Intentional deception resulting in injury to another.