Cal. CORP § 18020
This is the official text of Cal. CORP § 18020, part of California’s Corporations Code — governs the formation and operation of corporations, LLCs, and partnerships, and regulates securities.
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Official statutory text
(a) “Nonprofit association” means an unincorporated association with a primary common purpose other than to operate a business for profit.
(b) A nonprofit association may carry on a business for profit and apply any profit that results from the business activity to any activity in which it may lawfully engage.
(b) A nonprofit association may carry on a business for profit and apply any profit that results from the business activity to any activity in which it may lawfully engage.
Status: in_force · Read it on the official government site
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