In July, I posted this item regarding California’s Capital Access Company law. My friend, Lee Petillon, was the mover behind the original legislation. He is also the author and lead cheerleader for SB 1155 (Dutton & Price). The Capital Access Company law has yet to be used and SB 1155 is intended to eliminate some of [read more]
A lot of bills didn’t make it out of the legislature by the August 31 deadline. However, SB 392 (Florez) was one of the fortunate few to make it to enrollment. If signed into law by Governor Schwarzenegger, this bill will allow limited liability companies to render contractor services that are “professional services” otherwise prohibited by the [read more]
Yesterday, the Department of Corporations issued this notice to investment advisers registered with the it. The notice advises that the Department is adopting the new Part 2 to Form ADV effective October 12, 2010. The Department has announced the following compliance dates: As of January 1, 2011 all new investment adviser applicants will have to file, through the [read more]
Cooking dividends is the practice of declaring a false or “cooked” dividend for the purpose of raising the value of a company’s shares. Apparently, this was a serious problem in the early days of both California and Nevada. The practice is still illegal under the California General Corporation Law. Section 2254, among other things, makes [read more]
