A corporation holding assets in charitable trust must give written notice to the Attorney General 20 days before it sells, leases, conveys, exchanges, transfers or otherwise disposes of any or all of the assets held in trust unless the Attorney General has given the corporation a written waiver of this section as to the proposed transaction.
Cal. Corp. Code § 7913
Sales of Assets
Known as the Nonprofit Mutual Benefit Corporation Law
The act spans §§ 7110–8910 (196 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.