This title does not affect actions against directors, shareholders, or members of a corporation, to recover a penalty or forfeiture imposed, or to enforce a liability created by law; but such actions must be brought within three years after the discovery by the aggrieved party of the facts upon which the penalty or forfeiture attached, or the liability was created.
Cal. Civ. Proc. Code § 359
General Provisions as to the Time of Commencing Actions
Applied in 1 court decision — leading case Federal Deposit Insurance v. McSweeney (1992)
Most recently applied in Federal Deposit Insurance v. McSweeney (September 1992)
Amended by Stats. 1978, Ch. 1305.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.