The California General Corporation Law entitles directors in performing their duties to rely upon information, opinions, reports or statements of others. Cal. Corp. Code § 309(b). Does the statute protect a director who relies upon a statement or...
Recent Posts
Artificial intelligence (AI) has attracted a great deal of attention of late. Last week, for example, CNN headlined a recent story "Elon Musk warns AI could cause ‘civilization destruction’ even as he invests in it". If AI can write a credible term...
In honor of Earth Day, the California Department of Financial Protection & Innovation is promoting Environmental, Social, and Governance (ESG) investing on its website: "Embracing Sustainable Investment Practices with ESG Investing". According to...
The last several posts have been examining the definition, or lack thereof, of the term "officer". The term is widely used, but is not necessarily defined by in corporation laws. As noted in the first of these posts, Section 312 of the California...
In yesterday's post, I posited that Delaware does and doesn't define "officer". For the proposition that Delaware defines the term, I cited Delaware's deemed consent statute - 10 Del. Code § 3114. That statute, however, only appears to furnish a...
Yesterday's post discussed the meaning of the term "officer" under the California General Corporation Law. It may surprise no one that Delaware's statute, 8 Del. Code § 142, is different. Unlike Section 312 of the California Corporations Code,...
The word officer is used widely in the law. For example, there are judicial officers, peace officers, and constitutional officers. Even lawyers are often described as "officers of the court". See, e.g., Hickmanv.Taylor, 329 U.S. 495, 510 (1947) ("...
California Senator Dave Min has authored an unfortunately numbered bill, SB 666, that would prohibit a "covered entity" from charging the following fees to a small business in connection with a commercial financing transaction:
State Senator Nancy Skinner recently rewrote SB 54 to require "institutional investors" to submit annually to the Department of Financial Protection & Innovation reports disclosing the following:
