§ 31037 Nonprofit Corporation Definition

Key Takeaways

•A 'California nonprofit corporation' is a special kind of group that is created to help others, not to make money for owners.
•This group must follow special rules written in a part of California's laws called the 'Nonprofit Corporation Law'.
•These rules start at Section 5000 in the law books.
•Even if the rules were different a long time ago, groups that followed the old rules are still considered nonprofit corporations.

Example

A group of people start an organization to help feed homeless people in their town.

If they set up their group following the rules in California's Nonprofit Corporation Law, their group is called a 'California nonprofit corporation'. This means they don't pay out profits to owners; instead, all money goes to helping homeless people.

“California nonprofit corporation” means any corporation organized under the Nonprofit Corporation Law (Division 2 (commencing with Section 5000) of Title 1 of the Corporations Code) or any predecessor statute. (Amended by Stats. 1980, Ch. 1155, Sec. 33.)

Key Takeaways

•A 'California nonprofit corporation' is a special kind of group that is created to help others, not to make money for owners.
•This group must follow special rules written in a part of California's laws called the 'Nonprofit Corporation Law'.
•These rules start at Section 5000 in the law books.
•Even if the rules were different a long time ago, groups that followed the old rules are still considered nonprofit corporations.

Example

A group of people start an organization to help feed homeless people in their town.

Key Takeaways

Example

Key Terms

References

§ 31037 Nonprofit Corporation Definition

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References