Legal Question in Business Law in California
nonprofit corporation
How are funds collected for the work of the corporation to be disbursed? Can a nonprofit choose to hold funds in an account without spending it for the purpose for which the monies were collected?
Asked on 7/13/06, 4:09 pm
1 Answer from Attorneys
Ken Koenen
Koenen & Tokunaga, P.C.
Re: nonprofit corporation
Absolutely not.
Answered on 7/13/06, 6:22 pm
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