California Corporate & Securities Law

Article I, Section 16 of the California Constitution "Trial by jury is an inviolate right and shall be secured to all. . . ." The right may be "inviolate" but it does have limits. Thus, it is limited to the right as it existed in 1850, when...

If you skimmed the title of today's post, you might have concluded that it asks a question with an obvious answer: Do limited liability companies exist in California law? The answer is that they have been statutorily recognized since at least 1994...

The point of last Friday's post is that Section 1502 of the California Corporations Code does not apply to foreign limited liability companies. That statute requires a "corporation", as defined in Section 162, to file a statement with the Secretary...

Suppose you were asked to serve Nation Credit Adjusters, L.L.C. Your first step would likely be to try to identify the LLC's agent for service of process. If you perform a business entity search on the California Secretary of State's website, you...

Yesterday, Liz Dunshee revisited the debate over quarterly reporting of financial results. In her post, she notes "the Business Roundtable (BRT) (press release), the National Association of Corporate Directors (NACD) (press release) and the National...

In 2003, The California legislature enacted SB 523 to subject certain corporations to civil penalties of up to $1 million if the corporation has knowledge of certain acts and fails to notify the Attorney General or the "appropriate government...

Recently, I came to consider the potential ambiguity in the word "nonplussed".  The word originally meant to be confused or perplexed, as in:

Last week, Broc Romanek posed the question "whether it’s okay to use footnotes when you write".  My question for today is whether it is legal to use footnotes.  It turns out that this is a question that the California legislature has actually...

California's first limited liability company act was known as the Beverly-Killea Limited Liability Company Act, former Corporations Code Section 17000 et seq.  In 2012, the legislature replaced it with the ill conceived California Revised Uniform...