§ 2293. Subrogation of rights of claimant upon payment from fund

Statutes | Cal. Corp. Code § 2293

When the Secretary of State has paid from the fund any sum to the claimant, the Secretary of State shall be subrogated to all of the rights of the claimant and the claimant shall assign all of his or her right, title, and interest in the judgment to the Secretary of State and any amount and...

§ 2292. Unlawful filing of notice, statement or other documents; Punishment

Statutes | Cal. Corp. Code § 2292

It shall be unlawful for any person or the agent of any person to file with the Secretary of State any notice, statement, or other document required under the provisions of this chapter that is false or untrue or contains any willful, material misstatement of fact. That conduct shall constitute a...

§ 2290. Insufficient money in fund

Statutes | Cal. Corp. Code § 2290

If, at any time, the money deposited in the fund is insufficient to satisfy any duly authorized award or offer of settlement, the Secretary of State shall, when sufficient money has been deposited in the fund, satisfy the unpaid awards or offer of settlement, in the order that the awards or offers...

§ 2289. Maximum liability of fund

Statutes | Cal. Corp. Code § 2289

(a) Notwithstanding any other provision of this chapter and regardless of the number of persons aggrieved in an instance of corporate fraud, or misrepresentation or deceit resulting in a judgment meeting the requirements of Section 2282, or the number of judgments against a corporation, the...

§ 2288. Conditions for ordering payment; Defense on behalf of fund by Secretary of State; Burden of proof; Motion to dismiss

Statutes | Cal. Corp. Code § 2288

(a) Whenever the court proceeds upon a petition under Section 2287, it shall order payment out of the fund only upon a determination that the aggrieved party has a valid cause of action within the purview of Section 2282, and has complied with Section 2287. (b) (1) The Secretary of State may defend...

§ 2287. Appeal to superior court upon denial of application

Statutes | Cal. Corp. Code § 2287

(a) A claimant against whom the Secretary of State has rendered a decision denying an application may, within six months after the mailing of the notice of the denial, file a verified petition in superior court for an Order Directing Payment Out of the Victims of Corporate Fraud Compensation Fund...

§ 2285. Notice to claimant of decision on application

Statutes | Cal. Corp. Code § 2285

The Secretary of State shall give written notice, as prescribed by the Secretary of State, of a decision rendered with respect to the application to the claimant.

§ 2284. Rendering final decision on application; Response to decision

Statutes | Cal. Corp. Code § 2284

(a) The Secretary of State shall render a final written decision on the application within 90 calendar days after a completed application has been received unless the claimant agrees in writing to extend the time within which the Secretary of State may render a decision. (b) The Secretary of State...

§ 2282.1. Notice of application to corporation

Statutes | Cal. Corp. Code § 2282.1

(a) The Secretary of State shall provide notice to the corporation that a claimant has submitted an application for payment from the fund and shall also provide within that notice, as prescribed by the Secretary of State, the method to contest the payment from the fund. (b) The notice shall be...

§ 2282. Application for payment from fund; Form

Statutes | Cal. Corp. Code § 2282

(a) When an aggrieved person obtains a final judgment in a court of competent jurisdiction against a corporation based upon the corporation's fraud, misrepresentation, or deceit, made with intent to defraud, the aggrieved person may, upon the judgment becoming final and after diligent collection...