Part 1CHAMBERS OF COMMERCE, BOARDS OF TRADE, MECHANICS' INSTITUTES, ETC.

Section § 12000

Explanation

This law says that any corporation that was created or existed under a specific set of rules as of the end of 1979 is now governed by newer laws. If the corporation has capital stock, it's governed by General Corporation Law. If it doesn't have capital stock, it's governed by Nonprofit Mutual Benefit Corporation Law.

Every corporation organized or existing under Part 1 (commencing with Section 12000) in effect on December 31, 1979, is subject to and deemed to be organized under:
(a)CA Corporations Code § 12000(a) The General Corporation Law (Division 1 (commencing with Section 100) of this title), if the corporation is organized with capital stock.
(b)CA Corporations Code § 12000(b) The Nonprofit Mutual Benefit Corporation Law (Part 3 (commencing with Section 7110) of Division 2 of this title) if the corporation is organized without capital stock.
corporation with capital stock Nonprofit Mutual Benefit Corporation General Corporation Law capital stock corporation organization California corporation regulation corporate governance corporate legal framework corporation without stock mutual benefit corporation
(Repealed and added by Stats. 1978, Ch. 1305.)