Contact us with your California corporate & securities law questions (949) 353-6347 or Contact us here

Professor Bainbridge Precises Corporate Philanthropy

Earlier this week, UCLA Law School Professor Stephen Bainbridge precised the question of corporate philanthropy.  He notes "Virtually all states have adopted statutes specifically granting corporations the power to make charitable donations, which eliminates the ultra vires issue."  Several years back, I compared California's and Delaware's statutes:

Delaware’s statute appears to be more limited than California’s – it doesn’t specifically mention community fund, hospital, or civic purposes.  It also doesn’t include the catch-all “similar purposes”.  Delaware also doesn’t expressly dispense with the requirement of a “specific corporate benefit”.   California, on the other hand, doesn’t mention donations of aid in time of war or other national emergency.

You can read the whole post here.

Share on:

Section 207, Corporate Governance, corporate philanthropy, Corporations Code, Stephen Bainbridge

ANY QUESTIONS REGARDING CALIFORNIA CORPORATE AND SECURITIES LAW? CONTACT US DIRECTLY

We offer expert advice with the intricacies of California law.

Our years of experience and expertise allow us to help clients navigate the business laws in California.

CONTACT US

Get the latest news and analysis about California Corporate & Securities law. Subscribe to our newsletter today!

We respect your email privacy

ABOUT OUR AUTHOR

30172DBAB0084D3A8F39D7AF0A8E79BC.ashx Keith Paul Bishop
Partner at Allen Matkins
(949) 353-6328
 Contact me
Learn More About Keith

nominee-badge

Get the latest news and analysis about California Corporate & Securities law. Subscribe to our newsletter today!

We respect your email privacy

CATEGORIES

see all

RECOGNITION

YOUTUBE

FACEBOOK