“Close social purpose corporation” means a social purpose corporation that is also a close corporation.

(Amended by Stats. 2014, Ch. 694, Sec. 21. (SB 1301) Effective January 1, 2015.)

Terms Used In California Corporations Code 2503.1

  • 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.