California Corporations Code 5915 – Within 90 days of the receipt of the written notice required by …
Within 90 days of the receipt of the written notice required by Section 5914, the Attorney General shall notify the public benefit corporation in writing of the decision to consent to, give conditional consent to, or not consent to the agreement or transaction. The Attorney General may extend this period for one additional 45-day period if any of the following conditions are satisfied:
(a) The extension is necessary to obtain information pursuant to subdivision (a) of Section 5919.
Terms Used In California Corporations Code 5915
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) The proposed agreement or transaction is substantially modified after the first public meeting conducted by the Attorney General in accordance with Section 5916.
(c) The proposed agreement or transaction involves a multifacility health system serving multiple communities, rather than a single facility.
(Amended by Stats. 2017, Ch. 782, Sec. 2. (AB 651) Effective January 1, 2018.)