SECTIONS 29550-29555 - California Statutes

CORPORATIONS CODE

SECTION 29550-29555

29550. (a) Except as provided in subdivision (b), any person who
willfully violates any provision of this law, or who willfully
violates any rule or order under this law, shall upon conviction be
fined not more than two hundred fifty thousand dollars ($250,000) or
imprisoned in the state prison or in a county jail for not more than
one year, or be punished by both a fine and imprisonment; but no
person may be imprisoned for the violation of any rule or order if
that person proves that he or she had no knowledge of the rule or
order.
(b) Any person who willfully violates Section 29536 shall upon
conviction be fined not more than two hundred fifty thousand dollars
($250,000), or imprisoned in the state prison for two, three, or four
years, or be punished by both a fine and imprisonment.
(c) One-half of the fines collected under this section shall be
paid to the State Corporations Fund to be used for the support of
this division. The remainder of the fines collected under this
section shall be paid to the state or local agency which brought the
criminal prosecution.

29551. Nothing in this law limits the power of the state to punish
any person for any conduct which constitutes a crime under any other
statute.

29552. Any person who materially assists in any violation of this
law, or any rule or order of the commissioner under this law, is
jointly and severally liable with any other person liable under this
law for the violation.

29553. 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.

29554. Every cause of action under this law survives the death of
any person who might have been a plaintiff or defendant.

29555. Except as explicitly provided in this law, no civil
liability in favor of any private party shall arise against any
person by implication from, or as a result of, the violation of any
provision of this law or any rule or order under this law. Nothing in
this law shall limit any liability which may exist by virtue of any
other statute or under common law if this law were not in effect.