Added by renumbering Section 16106 by Stats. 2023, Ch. 478, Sec. 60. (AB 1756) Effective January 1, 2024.
(a)On and after January 1, 2025, or upon the regulations provided for in subdivision (b) taking effect, whichever occurs first, a trustee holding assets subject to a charitable trust shall give written notice to the Attorney General at least 20 days before the trustee sells, leases, conveys, exchanges, transfers, or otherwise disposes of all or substantially all of the charitable assets.
(b)On or after January 1, 2022, the Attorney General shall establish rules and regulations necessary to administer this section.