Without a lot of fanfare, the California State Legislature recently passed a bill that seeks to provide some clarity for charities as to how they are supposed to invest their assets.
Assembly Bill 792 (“AB 792”) was passed by the California State Legislature in June, 2015, signed by Governor Brown in July, 2015, and will become effective on January 1st of next year. According to its author, it will assist California nonprofit public benefit and California religious corporations in making better investment decisions by clarifying California law regarding the investment of their assets. The hope is that this, in turn, will provide these entities with improved investment returns. Continue reading “California Clarifies Investment Standards for Public Benefit and Religious Corporations”