California Corporations Code

§ 10403

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

CORP § 10403Div. 2 · Title 1 · Part 9

Statute text

View on leginfo.ca.gov

Every such corporation may take by gift, purchase, devise, or bequest, any property, real or personal, and hold it or dispose thereof at its pleasure; but no such corporation shall hold real property the annual income of which exceeds fifty thousand dollars ($50,000).

Legislative history

Enacted by Stats. 1947, Ch. 1038.