California Corporations Code

§ 7238

CORP § 7238Div. 2 · Title 1 · Part 3 · Ch. 2 · Art. 3

Statute text

Where a corporation holds assets in charitable trust, the conduct of its directors or of any person performing functions similar to those performed by a director, shall, in respect to the assets held in charitable trust, be governed by the standards of conduct set forth in Article 3 (commencing with Section 5230) of Chapter 2 of Part 2 for directors of nonprofit public benefit corporations. This does not limit any additional requirements which may be specifically set forth in this part regarding corporations holding assets in charitable trust.

Legislative history

Added by Stats. 1978, Ch. 567.