Nonprofit Basics: How To Wind up a California Charity
The federal Corporate Transparency Act (the “CTA”) has prompted certain states to consider their own laws aimed at increasing the transparency of beneficial ownership. This article delves into the recently enacted New York...more
Beginning January 1, 2024, many companies became subject to the beneficial ownership reporting requirements of the Corporate Transparency Act. The Financial Crimes Enforcement Network (FinCEN) estimated that the total costs...more
California's statutory definition of "security" lists by name two types of trust certificates - collateral trust certificates and voting trust certificates. Cal. Corp. Code § 25109. Both of these certificates are also found...more
One doesn't normally think of corporations as being agencies of the United States government. However, the California Corporations Code conclusively presumes that some corporations are agencies and instrumentalities of the...more
Shareholders are the persons who enjoy the most rights under the California General Corporation Law. A "shareholder" is not just anyone with rights in the shares, Corporations Code Section 185 defines a "shareholder" as "a...more
Section 711 of the California Corporations Code is so poorly drafted that it almost defies explanation. According to the legislature’s findings, the ostensible purpose of the statute is to facilitate the informed and active...more