Talk:Social purpose corporation

Incorrect Statement
"S.B. 1301 takes effect on January 1, 2015. On that date, existing FPCs will automatically continue their existence as SPCs."

This is an incorrect statement. Any California FPC formed before Jan 1, 2015 can elect to remain doing business as an FPC. They can also elect to convert to an SPC by amending their articles of incorporation. It's their choice. Given that there were only around 60 FPCs formed in California, I'm not sure it's a major issue, but the Wiki article should be corrected. 2601:204:4002:9A00:B9EE:31A5:F57F:98B1 (talk) 19:33, 2 March 2016 (UTC)