web analytics
Schedule a Consultation Today! 858.483.9200 | Click Here to Email Us
Social Purpose Corporation 2017-10-02T19:39:23+00:00

Schedule a Consultation: 858.483.9200

California Social Purpose Corporation San Diego

California Social Purpose Corporation San Diego Summary

A California social purpose corporation is governed by both the Corporate Flexibility Act and the Social Purpose Corporations Act. California Corporations Code §§ 2500-3503. California social purpose corporations combine social objectives into standard corporation structures to allow for the adoption of both social and financial purposes.

Other than the specific provisions for California social purpose corporations in the California Corporations Code, California social purpose corporations are subject to the general provisions of the corporations code and operated similarly to other for profit corporations. While California social purpose corporations combine social objectives to allow for the adoption of both social and financial purposes, California social purpose corporations are for profit corporations, not non-profit corporations.

Starting From:

$2,680

LOEN Filing From:

$52500

Are you ready to form your social purpose corporation?

SCHEDULE A CONSULTATION

California Social Purpose Corporation San Diego Details

Business Purpose

A California social purpose corporation may engage in any line of business; however, a California social purpose corporation is subject to the banking laws, and professional corporations adopting California social purpose corporation status are limited to engaging only in such business not prohibited by the banking laws or professional corporation laws under which they are governed.

Corporate Powers

Subject to the limitations of its articles of incorporation, applicable law, and its special purpose, a California social purpose corporation has all the same powers of a standard corporation.

Balance of Financial and Social Purpose

A California social purpose corporation must adopt both a social and financial purpose. The social purpose must be stated in the articles of incorporation, and the social purpose may only be changed by a super majority vote of its shareholders. When making corporate decisions, the board of directors of a California social purpose corporation is required to consider and weigh factors including: (1) the overall prospects of the California social purpose corporation; (2) the best interest of the social purpose; and (3) the best interest of the shareholders. A California social purpose corporation must also provide disclosure to its shareholders not only of its financial condition, but also its performance with respect to the pursuit of the social purpose.

Do you still have social purpose corporation questions?

SCHEDULE A CONSULTATION

Schedule a Consultation: 858.483.9200