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Corporations Code - CORP


Published: 2015-07-08

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Corporations Code - CORP

TITLE 1. CORPORATIONS [100 - 14631]

  ( Title 1 enacted by Stats. 1947, Ch. 1038. )

DIVISION 2. NONPROFIT CORPORATION LAW [5000 - 10841]

  ( Heading of Division 2 amended by Stats. 1978, Ch. 567. )

PART 4. NONPROFIT RELIGIOUS CORPORATIONS [9110 - 9690]

  ( Part 4 added by Stats. 1978, Ch. 567. )

CHAPTER 2. Directors and Management [9210 - 9260]

  ( Chapter 2 added by Stats. 1978, Ch. 567. )
ARTICLE 5. Investments [9250 - 9251]
  ( Article 5 added by Stats. 1979, Ch. 681. )

9250.  

(a) In investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing a corporation’s investments, the board shall meet the standards set forth in Section 9241.

(b) Nothing in this section shall be construed to preclude the application of the Uniform Prudent Management of Institutional Funds Act, Part 7 (commencing with Section 18501) of Division 9 of the Probate Code, if that act would otherwise be applicable. However, nothing in the Uniform Prudent Management of Institutional Funds Act alters the status of governing boards, or the duties and liabilities of directors, under this part.

(Amended by Stats. 2011, Ch. 442, Sec. 25. Effective January 1, 2012.)

9251.  

Nothing in Section 9250 shall abrogate or restrict the power of a court in proper cases to direct or permit a corporation to deviate from the terms of a trust or agreement regarding the making or retention of investments.

(Added by Stats. 1979, Ch. 681.)