2011 California Code
Corporations Code
TITLE 1. CORPORATIONS [100 - 14551]
ARTICLE 11. Conflict of Interest
Section 14086
It shall be unlawful for the director or any person who is an officer or director of a corporation, or who is an employee of the agency, to purchase or receive, or to be otherwise interested in the purchase or receipt, directly or indirectly, of any asset of a corporation, without paying to the corporation the fair market value of the asset at the time of the transaction.
(Amended by Stats. 2004, Ch. 143, Sec. 18. Effective July 14, 2004.)
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