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I was perplexed by Judge Cindee F. Mayfield's repeated references to "derivate claims" in a recent unpublished opinion - JBB Investment Partners v. Fair, Cal. Ct. of Appeal Case No. No. A160098 (June 9, 2022).
The Section 800 of the California Corporations Code statute governs actions instituted or maintained in right of any domestic or foreign corporation. These are commonly referred to as derivative actions but the statute does not denominate them as such.
I was perplexed by Judge Cindee F. Mayfield's repeated references to "derivate claims" in a recent unpublished opinion - JBB Investment Partners v. Fair, Cal. Ct. of Appeal Case No. No....
For the purposes of this part every director of a joint stock association is deemed to possess such knowledge of the affairs of his association as to enable him to determine whether...
California Corporations Code Section 22003 effectively deems directors to be all-knowing...