California Corporations Code

§ 5921

CORP § 5921 Effective Jan 1, 2018Div. 2 · Title 1 · Part 2 · Ch. 9 · Art. 2

Statute text

Within 90 days of the receipt of the written notice required by Section 5920, the Attorney General shall notify the nonprofit corporation in writing of the decision to consent to, give conditional consent to, or not consent to the agreement or transaction. The Attorney General may extend this period for one additional 45-day period if any of the following conditions are satisfied:

(a)The extension is necessary to obtain relevant information from any state agency, experts, or consultants.

(b)The proposed agreement or transaction is substantially modified after the first public meeting conducted by the Attorney General in accordance with Section 5922.

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Legislative history

Amended by Stats. 2017, Ch. 782, Sec. 6. (AB 651) Effective January 1, 2018.