§ 10008. — 10008. (Enacted by Stats. 1947, Ch. 1038.)

California § 10008.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 2.
• Title 1.: DIVISION 2. NONPROFIT CORPORATION LAW
• Part 6.: PART 6. CORPORATIONS SOLE

Text

Every corporation sole has perpetual existence and also has continuity of existence, notwithstanding vacancies in the incumbency thereof. During the period of any such vacancy, the corporation sole has the same capacity and right to receive and take any gift, bequest, devise, or conveyance of property, either as grantee for its own use, or as trustee, and to be or be made the beneficiary of a trust, as though there were no vacancy. No agency created by a corporation sole by a written instrument which in express terms provides that the agency thereby created shall not be terminated by a vacancy in the incumbency of the corporation is terminated or affected by the death of the
incumbent of the corporation or by a vacancy in the incumbency thereof, however caused.

Legislative History

Enacted by Stats. 1947, Ch. 1038.