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CA AB2755
Bill
Status
9/30/2014
Primary Sponsor
Raul Bocanegra
Click for details
AI Summary
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Amends Section 5047 of the Corporations Code to clarify the definition of "director" in nonprofit corporations.
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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.
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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.
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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