SECTIONS 5420 - California Statutes

CORPORATIONS CODE

SECTION 5420

5420. (a) Any person who receives any distribution is liable to the
corporation for the amount so received by such person with interest
thereon at the legal rate on judgments until paid.
(b) Suit may be brought in the name of a corporation by a
creditor, a director, the Attorney General, or, subject to meeting
the requirements of Section 5710, a member. In any such action in
addition to the remedy provided in subdivision (a), the court may
award punitive damages for the benefit of the corporation against any
director, officer, member or other person who with intent to defraud
the corporation caused, received or aided and abetted in the making
of any distribution.
(c) Any person sued under this section may implead all other
persons liable under this section and may in the absence of fraud by
such moving party compel contribution, either in that action or in an
independent action against persons not joined in the action.
(d) Nothing contained in this section affects any liability which
any person may have under Sections 3439 to 3439.12, inclusive, of the
Civil Code.