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California Corporations Code

§ 7111

CORP § 7111Div. 2 · Title 1 · Part 3 · Ch. 1 · Art. 1

Statute text

View on leginfo.ca.gov
Subject to any other provision of law of this state applying to the particular class of corporation or line of activity, a corporation may be formed under this part for any lawful purpose; provided that a corporation all of the assets of which are irrevocably dedicated to charitable, religious, or public purposes and which as a matter of law or according to its articles or bylaws must, upon dissolution, distribute its assets to a person or persons carrying on a charitable, religious, or public purpose or purposes may not be formed under this part.

Legislative history

Amended by Stats. 1981, Ch. 587, Sec. 25.

Source: California Corporations Code § 7111 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.