There is a newer version of the California Code
2011 California Code
Corporations Code
TITLE 1. CORPORATIONS [100 - 14551]
PART 9. SOCIETIES FOR PREVENTION OF CRUELTY TO ANIMALS
Section 10403
CA Corp Code § 10403 (through 2012 Leg Sess) What's This?
Every such corporation may take by gift, purchase, devise, or bequest, any property, real or personal, and hold it or dispose thereof at its pleasure; but no such corporation shall hold real property the annual income of which exceeds fifty thousand dollars ($50,000).
(Enacted by Stats. 1947, Ch. 1038.)
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