California Business and Professions Code 7512.3 v2 – (a) As used in this chapter, “person” includes any individual, …
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(a) As used in this chapter, “person” includes any individual, firm, company, association, organization, partnership, and corporation.
(b) This section shall become operative on January 1, 2025.
Terms Used In California Business and Professions Code 7512.3 v2
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(Amended (as amended by Stats. 2020, Ch. 312, Sec. 77) by Stats. 2022, Ch. 625, Sec. 19. (SB 1443) Effective January 1, 2023. Section operative January 1, 2025, by its own provisions.)