Legal Question in Business Law in California

Re: Is a CFO required by law?

For-profit corporations in California are required to have three particular officers: a president, a secretary, and a treasurer or chief financial officer.

I'm away from my office so I can't look up whether the requirements also apply to non-profit corporations. I will look it up and post an additional answer if there is an exemption. Otherwise, assume the requirement applies to non-profit corporations as well.

If you are not incorporated, this particular statutory requirement would not apply, but I would say that however your church is organized, if it failed to appoint someone to be in charge of its finances it would risk being found negligent if a legal squabble over money arose.

Re: Is a CFO required by law?

i am more concerned why you ask than the answer to your question!!!!! in part it depends on the nature of your church's organization. i incorporated under 501(c)(3) and ca non-profit corp law --- basicly yes. i am in no. ca the s.f. bay area and if you wish to consult with me 925-945-6000

Re: Is a CFO required by law?

Here is the follow-up I promised.

If the church is incorporated under California's nonprofit religious corporations law, Corporations Code sections 9110-9690, it must have a chief financial officer. See Corporations Code section 9213(a), which reads in relevant part "A corporation shall have a chairman of the board or a president or both, a secretary and a chief financial officer....."