Cal. Code Regs. tit. 5 § 42667

Current through Register 2024 Notice Reg. No. 41, October 11, 2024

Section 42667 - For-Profit Subsidiaries

Subject to the approval of the chancellor and the Board of Trustees, a systemwide auxiliary organization may establish for-profit subsidiary organizations as long as neither the purpose of the systemwide auxiliary organization nor the nonprofit status of the systemwide auxiliary organization is compromised by the subsidiaries. The systemwide auxiliary organization shall cause a subsidiary organization to engage only in those activities which further the purposes of the systemwide auxiliary organization and which have been approved by the chancellor.

Cal. Code Regs. Tit. 5, § 42667

1. New section filed 7-24-95; operative 8-23-95 (Register 95, No. 30).

Note: Authority cited: Sections 89030 and 89900, Education Code. Reference: Section 89900, et seq., Education Code.

1. New section filed 7-24-95; operative 8-23-95 (Register 95, No. 30).