California Corporations Code

§ 12313

CORP § 12313 Effective Jan 1, 2014Div. 3 · Title 1 · Part 2 · Ch. 1 · Art. 4

Statute text

(a)The articles of incorporation may set forth any or all of the following provisions, which shall not be effective unless expressly provided in the articles:

(1)A provision limiting the duration of the corporation’s existence to a specified date.

(2)A provision providing for the distribution of the remaining assets of the corporation, after payment or adequate provision for all of its debts and liabilities, to a charitable trust.

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Legislative history

Amended by Stats. 2013, Ch. 538, Sec. 3. (AB 1255) Effective January 1, 2014.