Except as otherwise provided by law, if the term of existence for which any corporation was organized expires without renewal or extension thereof, the board shall terminate its activities and wind up its affairs; and when the affairs of the corporation have been wound up a majority of the directors shall execute and file a certificate conforming to the requirements of Section 8615.
Cal. Corp. Code § 8616
Voluntary Dissolution
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.