§ 7913 Charitable Trust Asset Disposal

Corporations Code·California

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Key Takeaways

•If a company holds money or property for charity, they can't sell or give it away without telling the Attorney General first.
•They must send a written notice 20 days before doing anything with the charity's money or property.
•The Attorney General can say it's okay to skip the notice if they give permission in writing.

Example

A big company has a bunch of land they promised to use for a park. One day, they decide to sell the land to build a mall.

Before selling the land, the company must tell the Attorney General in writing and wait 20 days. If they don’t, they could get in trouble, even if they sell the land for a good price.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 7913 Charitable Trust Asset Disposal

A corporation holding assets in charitable trust must give written notice to the Attorney General 20 days before it sells, leases, conveys, exchanges, transfers or otherwise disposes of any or all of the assets held in trust unless the Attorney General has given the corporation a written waiver of this section as to the proposed transaction. (Added by Stats. 1978, Ch. 567.)

Last verified: January 23, 2026

Key Terms

charitable trust written notice Attorney General written waiver

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 7913.

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Key Takeaways

Example

Key Terms

Related Statutes

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