Corporations Code – CORP § 7238

Where a 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.