SECTIONS 14085-14087 - California Statutes

CORPORATIONS CODE

SECTION 14085-14087

14085. It shall be unlawful for the director or any person who is
an officer, director, or employee of a corporation, or who is a
member of a loan committee, or who is an employee of the agency to:
(a) Ask for, consent, or agree to receive, any commission,
emolument, gratuity, money, property, or thing of value for his or
her own use, benefit, or personal advantage, for procuring or
endeavoring to procure for any person, partnership, joint venture,
association, or corporation, any loan, guarantee, financial, or other
assistance from any corporation.
(b) Borrow money, property, or to benefit knowingly, directly or
indirectly, from the use of the money, credit, or property of any
corporation.
(c) Make, maintain, or attempt to make or maintain, a deposit of
the funds of a corporation with any other corporation or association
on condition, or with the understanding, expressed or implied, that
the corporation or association receiving the deposit shall pay any
money or make a loan or advance, directly or indirectly, to any
person, partnership, joint venture, association, or corporation,
other than to a corporation formed under this part.

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.

14087. Violation of any provision of this article shall constitute
a felony.