When I joined the Department of Corporations, it had no website. I remember reviewing possible designs for a site. Now, it seems hard to imagine that there was a time when state agencies didn't have websites. Today, the Department's website is a...
Recent Posts
The California Corporations Code endows corporations with certain rights, including the right to "adopt, use and alter" a seal. Cal. Corp. Code § 207(a). The Corporations Code does not define a "seal" but the Code of Civil Procedure does. Under...
Yesterday's post discussed virtual currencies (e.g., Bitcoin) and the General Corporation's law prohibition on issuing or putting into circulation money. But what exactly is money? The General Corporation Law has no answer. I'm aware of at least...
I've been seeing an increasing number of references to Bitcoin and other forms of virtual or crypto currencies in the news. For example, Jeffrey Sparshott and Robin Sidel of the Wall Street Journal reported last week that the Department of Homeland...
It is widely assumed that if a contract, note or other instrument is signed by a corporation's president and its secretary, it will not be invalidated as to the corporation by any lack of authority of the signing officers. After all, Section 313 of...
Artistotle didn't think much of the idea of paying interest:
No Harm, No Foul
Yesterday's blog discussed California's requirement that many domestic and foreign corporations send financial statements to their shareholders. If a corporation has 100 or more holders of record (determined in accordance with Section 605), then the...
California is a net exporter of corporate charters, but it remains home to many corporations. As a result, the California Corporations Code has a preternatural concern with foreign corporations.
