Subject to any other provisions of law of this state applying to the particular class of corporation or line of activity, a corporation may be formed under this part for any public or charitable purposes.
(Amended by Stats. 1979, Ch. 724.)
Terms Used In California Corporations Code 5111
- 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.
- State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77