Corporations Code §7238. Conduct of Directors Re Assets in Charitable Trust.
corporation holds assets in charitable trust, the conduct of its
directors or of any person performing functions similar to those
performed by a director, shall, in respect to the assets held in
charitable trust, be governed by the standards of conduct set forth in
Article 3 (commencing with Section 5230) of Chapter 2 of Part 2 for
directors of nonprofit public benefit corporations. This does not limit
any additional requirements which may be specifically set forth in this
part regarding corporations holding assets in charitable trust.
(Added by Stats. 1978, Ch. 567.)