Under California corporations law, a corporate director generally has an absolute right to inspect the corporation’s books and records. In Wolf v. CDS Devco, the California Court of Appeal held that a trial court properly declined to enforce a director’s demand for inspection where the director’s term expired after the demand for inspection.
A corporate shareholder’s creditors may not “pierce the corporate veil” to reach the corporation’s assets to satisfy claims against the shareholder. Under very limited circumstances, a court will disregard the corporate form so that a shareholder’s personal assets are subject to claims against the corporation. However, in Postal Instant Press v. Kaswa Corp., the California… read more