(a) In investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing a corporation‘s investments, the board shall meet the standards set forth in Section 9241.

(b) Compliance with the Uniform Prudent Management of Institutional Funds Act (Part 7 (commencing with Section 18501) of Division 9 of the Probate Code), if that act would be applicable, will be deemed to be compliance with subdivision (a).

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Terms Used In California Corporations Code 9250

  • 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.
  • Probate: Proving a will

(Amended by Stats. 2015, Ch. 56, Sec. 2. (AB 792) Effective January 1, 2016.)

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