California Corporations Code

§ 7240

CORP § 7240Div. 2 · Title 1 · Part 3 · Ch. 2 · Art. 4

Statute text

A corporation holding assets in charitable trust is subject at all times to examination by the Attorney General, on behalf of the state, to ascertain to what extent, if at all, it has failed or is failing to comply with trusts it has assumed. In case of any such failure the Attorney General, in the name of the state, may institute against any person or persons the proceedings necessary to correct the failure.

Legislative history

Amended by Stats. 1979, Ch. 724.