California Law (Last Updated: March 4, 2014) |
Corporations Code - CORP |
Title 1. CORPORATIONS |
Division 2. NONPROFIT CORPORATION LAW |
Part 9. SOCIETIES FOR PREVENTION OF CRUELTY TO ANIMALS |
Section 10403.
Latest version.
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Every such corporation may take by gift, purchase, devise, or bequest, any property, real or personal, and hold it or dispose thereof at its pleasure; but no such corporation shall hold real property the annual income of which exceeds fifty thousand dollars ($50,000).
(Enacted by Stats. 1947, Ch. 1038.)