Legal Question in Business Law in California

I think you need to consult an attorney in private and explain what you are trying to accomplish here. What exactly are you paying for and to whom? A qualified not-for-profit is a non-stock entity. It cannot be bought or sold. It has Directors, not stock. If a NFP is winding up, its assets are gifted to a similar qualified NFP and not sold. It is entirely possible that I am missing something here, which is why you need real legal guidance and rely on this website for help in this regard.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Our firm is now referred by the American Bar Association (see under the New York section):

http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

Corporation ownership is controlled by stock ownership. The articles of incorporation are what are filed with the Secretary of State as part of the corporation. Buying the articles of incorporation sounds like a scam to me.