California Corporations Code

§ 5923

CORP § 5923 Effective Jan 1, 2018Div. 2 · Title 1 · Part 2 · Ch. 9 · Art. 2

Statute text

The Attorney General shall have discretion to consent to, give conditional consent to, or not consent to any agreement or transaction described in subdivision (a) of Section 5920. In making the determination, the Attorney General shall consider any factors that the Attorney General deems relevant, including, but not limited to, whether any of the following apply:

(a)The terms and conditions of the agreement or transaction are fair and reasonable to the nonprofit corporation.

(b)The agreement or transaction will result in inurement to any private person or entity.

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Legislative history

Amended by Stats. 2017, Ch. 782, Sec. 8. (AB 651) Effective January 1, 2018.