This should be a straightforward question - Are qualification and registration requirements under state securities laws preempted with respect to industrial development bonds?
Recent Posts
California Corporations Code Section 25100 is a long list of securities exempt from the qualification requirements of the Corporate Securities Law of 1968. Last on this list (Section 25100(t)) is any security issued or guaranteed by and representing...
Yesterday, the Nevada Supreme Court held that one party's material breach of a contract releases the non-breaching party's contractual obligation to a third-party beneficiary. Cain v. Price, 134 Nev. Adv. Op. 26 (2018). In this case, the contract...
An effort by several California legislators to impose gender quotas on publicly held corporations will be heard next week by the Banking and Financial Institutions Committee. SB 826, as amended on April 3, will apply to both California domestic...
Many may have heard of Cede and Company, but what exactly is it and who owns it? Cede is a New York partnership, of which Depository Trust Company and The Depository Trust and Clearing Corporation are partners. The former, DTC, is a New York...
When bad things happen to corporations, derivative suits are sure to follow. So it was for Galectin Therapeutics, Inc., a Nevada corporation. Following publication of allegations of a "stock promotion scheme", stockholders filed derivative suits in...
Yesterday's post concerned a recent federal district court decision applying the corporate alter ego doctrine to a Nevada limited liability company. Bustos v. Dennis, 2018 U.S. Dist. LEXIS 45764. An update to this post noted that although Judge...
Corporations and limited liability companies share a key feature - insulation of owners from the liabilities of the entity. In the 19th century, courts began to fashion a significant exception to this principle for corporations. The exception became...
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