Statute · California Government Code

Cal. Gov't Code § 12599.8 — Supervision of Trustees and Fundraisers for Charitable Purposes Act

Cal. Gov't Code § 12599.8

Type: Statute
Source: California Government Code
Jurisdiction: California
Date: 2024-01-01
Current through: Nov 2, 2026 (California Legislative Counsel)

For any year that the balance sheet of a charitable organization shows that it holds restricted net assets, while reporting negative unrestricted net assets, the organization shall provide an explanation of its compliance with its charitable trust responsibilities and proof of directors’ and…

Citator

Cal. Gov't Code § 12599.8 — Supervision of Trustees and Fundraisers for Charitable Purposes Act is in force in the current edition of the Code, and nothing recorded condemns it.

For any year that the balance sheet of a charitable organization shows that it holds restricted net assets, while reporting negative unrestricted net assets, the organization shall provide an explanation of its compliance with its charitable trust responsibilities and proof of directors’ and officers’ liability insurance coverage to the Attorney General’s Registry of Charities and Fundraisers.