Legislation
SECTION 520
Liability for failure to disclose required information
Business Corporation (BSC) CHAPTER 4, ARTICLE 5
§ 520. Liability for failure to disclose required information.
Failure of the corporation to comply in good faith with the notice or
disclosure provisions of paragraphs (f) and (g) of section 511 (Share
distributions and changes), or paragraph (c) of section 516 (Reduction
of stated capital in certain cases), shall make the corporation liable
for any damage sustained by any shareholder in consequence thereof.
Failure of the corporation to comply in good faith with the notice or
disclosure provisions of paragraphs (f) and (g) of section 511 (Share
distributions and changes), or paragraph (c) of section 516 (Reduction
of stated capital in certain cases), shall make the corporation liable
for any damage sustained by any shareholder in consequence thereof.