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
During the 2021-2022 legislative session, the California Secretary of State sponsored legislation, 2022 Cal. Stats. ch. 617, making numerous changes to the Corporations Code in anticipation of the implementation of its...more
Yesterday's post focused on a California bill, AB 1229 (Haney), that would create a new Decentralized Nonprofit Association Law. Today's post drills down on what I see as fundamental flaw in the bill. In addition to...more
Currently, the California Corporations Code prohibits a California corporation from conducting a meeting of shareholders solely by electronic transmission by and to the corporation, electronic video screen communication,...more
On January 1, 2023, Assembly Bill (“AB”) 676 will go into effect, significantly amending the California Franchise Relations Act and Franchise Investment Law. The provisions of AB 676 will only apply to franchise agreements...more
Throughout the life cycle of a company, and especially during the leaner early start-up stages, corporate actions that are defective due to failures to obtain the correct board or shareholder votes, errors in the approval...more
Governor Pritzker signed Public Act 101-656 into law, amending the Illinois Human Rights Act (IHRA), the Business Corporation Act of 1983, and the Illinois Equal Pay Act of 2003. The Public Act became effective when signed on...more
In 2021, the Illinois General Assembly passed Senate Bill (SB) 1480, which amends the Illinois Human Rights Act, the Illinois Equal Pay Act, and the Illinois Business Corporation Act. On March 23, 2021, Governor J.B....more
A new law passed in Ohio that will create a “For-Profit Benefit Corporation” designation in Ohio. Senate Bill 21 amends Ohio Corporation law, as contained in ORC §1701, providing for a new form of for-profit corporation, a...more
In our Legislative Alert of October 13, 2020, we reported on the California legislation enacted in late September, Assembly Bill 1864, that created the new California Consumer Financial Protection Law (“CCFPL”), and we set...more
On September 30, 2020, Gov. Newsom signed Assembly Bill 979 (“AB 979”) into law. The new statute, which adds section 301.4 to the Corporations Code, is aimed at increasing representation from communities of color and the...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
As we previously discussed, on September 30, 2018, former California Governor Jerry Brown signed legislation intended to ensure that public companies headquartered in California have at least one female director. This...more
Delaware has enacted a business trust law that governs both domestic and foreign trusts. 12 Del. Code § 3801 et seq. California has no similar law but it does purport to impose certain provisions of its General Corporation...more
Washington State recently passed a law setting forth a new business entity type: Limited Cooperative Associations (LCA). This new statute will become effective July 28, 2019....more
Like a pride of lions flashing teeth and fangs, the California legislature is on the hunt in 2018. As has become an annual spring ritual, Sacramento politicians have once again proposed a progressive labor agenda....more
Readers of this blog will recall my chariness of a 2013 amendment to California’s basic securities anti-fraud statute. See California Creates Complete Chaos By Rewriting Anti-Fraud Statute, But “We Are Against Fraud Aren’t...more
The 78th Session of the Nevada Legislature made a number of changes to provisions of Title 7 of the Nevada Revised Statutes (NRS) governing business entities, including corporations, limited liability companies and limited...more
A new commercial companies law (“New CC Law”) was issued in the United Arab Emirates (“UAE”) on 1 April 2015 and will come into effect within the next three months. The New CC Law applies to companies established in the UAE...more
In September 2013, Governor Jerry Brown signed SB 538 (Hill) into law. This bill fundamentally rewrote a key anti-fraud provision of the Corporate Securities Law of 1968 – Corporations Code Section 25401. At the time, I...more