CHAPTER 1. General Provisions and Definitions

Chapter 1 added by Stats. 2011, Ch. 740, Sec. 12.

§§ 2500–2517 · 26 sections

§ 2500 This division shall be known and may be cited as the Social Purpose Corporations Act.
§ 2501 Except as otherwise expressly stated, the provisions of Division 1 (commencing with Section 100) shall apply to corporations organized under this division, and…
§ 2502 This division applies only to social purpose corporations organized expressly under this division whether organized or existing under this division or amended,…
§ 2502.01 Every social purpose corporation organized under the laws of this state or similar foreign social purpose corporation, all of the capital stock of which is…
§ 2502.02 Unless otherwise expressly provided, whenever reference is made in this division to any other state or federal statute, that reference is to that statute as it…
§ 2502.03 A social purpose corporation may be sued in the same manner as a corporation as provided in the Code of Civil Procedure.
§ 2502.04 A social purpose corporation formed under this division shall, in respect of its property, as a condition of its existence as a social purpose corporation, be…
§ 2502.05 The fees of the Secretary of State for filing instruments by or on behalf of social purpose corporations shall be the same fees prescribed for corporations in…
§ 2502.06 (a) Provisions of the articles described in paragraph (3) of subdivision (e) of Section 2602 and subdivisions (a) and (b) of Section 2603 may be made dependent…
§ 2502.07 Nothing contained in this division shall be construed to modify the provisions of subdivision (h) of Section 25102, or the conditions provided therein to the…
§ 2503 “Annual report” means the report required by subdivision (a) of Section 3500, including the information specified in subdivision (b) of Section 3500.
§ 2503.1 “Close social purpose corporation” means a social purpose corporation that is also a close corporation.
§ 2504 “Constituent social purpose corporation” means a social purpose corporation that is merged with or into one or more corporations or one or more other business…
§ 2505 “Conversion” means a conversion pursuant to Chapter 11.5 (commencing with Section 1150) of Division 1 and Chapter 9 (commencing with Section 3300) of this…
§ 2506 “Disappearing social purpose corporation” means a constituent social purpose corporation that is not the surviving entity.
§ 2507 “Domestic social purpose corporation” means a corporation organized under this division.
§ 2509 “Social purpose corporation,” unless otherwise expressly provided, refers only to a corporation organized under this division.
§ 2510 “Social purpose corporation subject to the Banking Law” means any of the following: (a) A social purpose corporation that, with the approval of the…
§ 2510.1 “Social purpose corporation subject to the Insurance Code as an insurer” means a social purpose corporation that has met the requirements of Sections 201.5,…
§ 2511 “Reorganization” means a merger reorganization, an exchange reorganization, or a sale of assets reorganization. (a) “Merger reorganization” means a merger…
§ 2512 “Share exchange tender offer” means any acquisition by one social purpose corporation in exchange in whole or in part for its equity securities, or the equity…
§ 2513 “Special purpose” means the special purpose set forth in a social purpose corporation’s articles pursuant to subdivision (b) of Section 2602.
§ 2514 “Special purpose current report” means the report required of a social purpose corporation pursuant to Section 3501.
§ 2515 “Special purpose MD&A” means the management discussion and analysis required of a social purpose corporation pursuant to subdivision (b) of Section 3500.
§ 2516 “Special purpose objectives” means those objectives set forth by management and the directors of a social purpose corporation for purposes of measuring the…
§ 2517 “Surviving social purpose corporation” means a social purpose corporation into which one or more other corporations or one or more other business entities is…