Without authorization of the board, no corporate funds may be expended to support a nominee for director after there are more people nominated for director than can be elected.
Cal. Corp. Code § 5526
Additional Provisions Relating to Election of Directors
Known as the Nonprofit Public Benefit Corporation Law
The act spans §§ 5110–6910 (202 sections).
Added by Stats. 1978, Ch. 567.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.