For six months following the establishment of a corporation, commencing upon filing of the articles of incorporation with the Secretary of State, a corporation shall be on probation. While on probation, a corporation may be suspended if suspension is recommended by the program manager and affirmed by the executive director. This suspension is nonappealable and not subject to the procedures for suspension applicable to a corporation not on probation.
Cal. Corp. Code § 14012
New Corporations
Known as the California Small Business Financial Development Corporation Law
The act spans §§ 14000–14024 (25 sections).
Added by Stats. 2013, Ch. 537, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.