California Corporations Code

§ 2604

CORP § 2604 Effective Jan 1, 2015Div. 1.5 · Title 1 · Ch. 2

Statute text

Subject to any limitation contained in the articles, to compliance with any other applicable laws, and to consistency with the special purpose of the social purpose corporation, any social purpose corporation other than a social purpose corporation subject to the Banking Law or a professional social purpose corporation may engage in any business activity. A social purpose corporation subject to the Banking Law or a professional social purpose corporation may engage in any business activity not prohibited by the respective statutes and regulations to which it is subject.

Legislative history

Amended by Stats. 2014, Ch. 694, Sec. 40. (SB 1301) Effective January 1, 2015.