Nonprofit Basics: How To Wind up a California Charity
In 1989, the California legislature added Section 14200 to the California Corporations Code...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
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
In my four decades of practicing corporate law, I have never encountered someone giving notice by telegraph. Yet several provisions of the Corporations Code (Sections 118, 5015 and 2511) refer to telegrams. Now, one...more
In California, all LLCs are required to periodically file a Statement of Information with the Secretary of State. The Statement of Information is posted to the Secretary of State’s website, and can be accessed by the public...more
Assembly Member Al Muratsuchi recently introduced a bill, AB 2069, that would grant courts the discretion to award treble damages for violations of the qualification requirements of the Corporate Securities Law of...more
Nearly one year ago, I wrote that Assembly Member Tom Daly had introduced legislation that would allow limited liability companies to obtain a real estate license. Action on the bill stalled out last April and the bill would...more
In California, real estate broker licenses are currently issued only to individuals and corporations. Limited liability companies need not, indeed may not, apply. This is a result of a compromise that was reached when...more
Section 403 of the California Corporations Code provides authority for a California corporation to issue convertible shares when so provided in the articles of incorporation. In general, conversion may be upon the "happening...more
Senator Hannah-Beth Jackson's effort to mandate the number of female directors recently passed out of the Senate Committee on Judiciary. That should not be too surprising as Senator Jackson chairs the committee. The bill's...more
Corporations Code Section 25401 is California’s basic securities antifraud statute...more
Section 17701.04(b) of the California Corporations Code provides: A limited liability company may have any lawful purpose, regardless of whether for profit, except the banking business, the business of issuing policies...more
In the last legislative biennium, the Corporations Committee of the Business Law Section of the California State Bar sponsored a bill, AB 713 (Wagner) to clarify the status of finders under the California Corporate Securities...more