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
I have been writing about a bill, SB 261, that would would require businesses to prepare and submit climate-related financial risk reports. On May 30, 2023, the bill passed out of the Senate on a 27-8 vote....more
On May 11, 2022, a draft bill to amend the Companies Law passed a preliminary reading in the Israeli parliament. The draft bill seeks to obligate companies falling under the definition of “monopolist” pursuant to the Economic...more
The legislation creating California's female director board quota requires the Secretary of State to publish on his Internet website a report no later than March 1, 2020 a report of the following...more
California Gov. Gavin Newsom recently signed into law a number of bills that will affect Trust and Estate attorneys, and which are effective as of Jan. 1, 2020. In addition, three new laws make changes to civil discovery...more
The Securities and Exchange Commission's Form 10-K requires disclosure of a company's "principal executive offices". The SEC, however, provides no definition of what constitutes a company's "principal executive...more
Yesterday, Broc Romanek reported that Corp Fin has published a new C&DI addressing the permissibility of electronic delivery of disclosures under Rule 701(e). Readers will recall that Rule 701 is an exemption from the...more
In yesterday’s post, I commented on a recent ruling by former Vice Chancellor John W. Noble to the effect that “Delaware disclosure law which generally does not require disclosures to shareholders unless shareholder action is...more
The California Corporate Securities Law has long declared a number of manipulative devices to be unlawful. See Cal. Corp. Code § 25400. Now, a California legislator wants to add to the list. As amended last week, SB 726...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
Some statutes are so poorly drafted that one hardly knows where to begin. One such statute is Section 711 of the California Corporations Code. According to the legislature, the purpose of the statute is “to serve the public...more