California Statutes
§ 71562. — 71562. (Added by Stats. 2010, Ch. 687, Sec. 2.)
California·Code PRC Public Resources Code - PRC·Div. 37. DIVISION 37. CALIFORNIA ENDOWMENT FOR MARINE PRESERVATION·Ch. 6. CHAPTER 6. Financial Transactions and Audits
Funds held by the endowment shall revert to the state or to another public agency or nonprofit organization approved by the state if the endowment does any of the following:
(a)Ceases operations.
(b)Is dissolved.
(c)Becomes bankrupt or insolvent.
(d)Fails to perform its fiduciary duties.
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California § 71562. (71562. (Added by Stats. 2010, Ch. 687, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2010, Ch. 687, Sec. 2. (AB 2503) Effective January 1, 2011.