California § 71562 - Funds held by the endowment shall revert to the state or to another public agency
Full text of California Public Contract Code - PCC § 71562 — Funds held by the endowment shall revert to the state or to another public agency, with citation guidance and answers to common questions.
§ 71562. Funds held by the endowment shall revert to the state or to another public agency
Funds held by the endowment shall revert to the state or to another public agency or nonprofit organization approved by the state if the endowment does any of the following: (a) Ceases operations. (b) Is dissolved. (c) Becomes bankrupt or insolvent. (d) Fails to perform its fiduciary duties.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 71562
What does Public Contract Code - PCC § 71562 cover?
Section 71562 ("Funds held by the endowment shall revert to the state or to another public agency") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 71562?
A common citation format is "Public Contract Code - PCC § 71562" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 71562 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.