SECTIONS 7110-7111 - California Statutes

CORPORATIONS CODE

SECTION 7110-7111

7110. This part shall be known and may be cited as the Nonprofit
Mutual Benefit Corporation Law.

7111. Subject to any other provision 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 lawful purpose;
provided that a corporation all of the assets of which are
irrevocably dedicated to charitable, religious, or public purposes
and which as a matter of law or according to its articles or bylaws
must, upon dissolution, distribute its assets to a person or persons
carrying on a charitable, religious, or public purpose or purposes
may not be formed under this part.