Subject to any limitation contained in the articles and to compliance with any other applicable laws, any corporation other than a corporation subject to the Banking Law or a professional corporation may engage in any business activity; and a corporation subject to the Banking Law or a professional corporation may engage in any business activity not prohibited by the respective statutes and regulations to which it is subject.
Cal. Corp. Code § 206
Organization and Bylaws
Known as the General Corporation Law
The act spans §§ 100–2319 (398 sections).
Amended by Stats. 1978, Ch. 370.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.