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N Cal Atty
N Cal Atty, Attorney
Category: Traffic Law
Satisfied Customers: 9174
Experience:  Since 1983
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Can a corporation gift a car owned by the corporation to an

Customer Question

Can a corporation gift a car owned by the corporation to an individual?
Submitted: 1 year ago.
Category: Traffic Law
Expert:  N Cal Atty replied 1 year ago.
Thank you for your question.

In general the Board of Directors could do that if not prohibited by the corporate charter or bylaws.

May I ask where the corporation was incorporated so I can look to see if any State law would prevent that?

May I ask why the corporation wants to do this?
Customer: replied 1 year ago.
It is a California corporation.
It is my husband's corp. and he wants to gift the corp. car to me, his wife.
Expert:  N Cal Atty replied 1 year ago.
Thank you for the additional information. There is no law that says he cannot do that.