California Welfare and Institutions Code 4443 – Each such corporation may acquire and hold in its corporate name by …
Current as of: 2024 | Check for updates
|
Other versions
Each such corporation may acquire and hold in its corporate name by gift, grant, devise, or bequest property to be applied to the maintenance of the patients of the hospital and for the general use of the corporation.
(Added by Stats. 1977, Ch. 1252.)
Terms Used In California Welfare and Institutions Code 4443
- Bequest: Property gifted by will.
- 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.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.