Cal. Corp. Code § 2604
Organization and Bylaws
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2015
As of January 1, 2011
Subject to any limitation contained in the articles, to compliance with any other applicable laws, and to consistency with the special purpose of the flexible purpose corporation, any flexible purpose corporation other than a flexible purpose corporation subject to the Banking Law or a professional flexible purpose corporation may engage in any business activity. A flexible purpose corporation subject to the Banking Law or a professional flexible purpose corporation may engage in any business activity not prohibited by the respective statutes and regulations to which it is subject.
Subject to any limitation contained in the articles, to compliance with any other applicable laws, and to consistency with the special purpose of the social purpose corporation, any social purpose corporation other than a social purpose corporation subject to the Banking Law or a professional social purpose corporation may engage in any business activity. A social purpose corporation subject to the Banking Law or a professional social purpose corporation may engage in any business activity not prohibited by the respective statutes and regulations to which it is subject.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.