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CA AB2755

Bill

Status

Passed

9/30/2014

Primary Sponsor

Raul Bocanegra

Click for details

Origin

State Assembly

2013-2014 Session

AI Summary

  • Amends Section 5047 of the Corporations Code to clarify the definition of "director" in nonprofit corporations.

  • Establishes that a person who lacks voting authority as a member of the governing body is not considered a director under California law, regardless of their title.

  • Confirms that persons designated as directors by position (within or outside the corporation) retain full director status and voting rights if they have authority to vote in the governing body.

  • Applies to nonprofit public benefit corporations, nonprofit mutual benefit corporations, and nonprofit religious corporations regulated under the Nonprofit Corporation Law.

Legislative Description

Nonprofit corporations: directors.

Last Action

Chaptered by Secretary of State - Chapter 914, Statutes of 2014.

9/30/2014

Committee Referrals

Judiciary5/28/2014
Rules5/19/2014
Banking and Finance4/3/2014

Full Bill Text

No bill text available