Yesterday, the California Office of Administrative Law approved the Department of Financial Protection and Innovation’s (DFPI) proposed commercial financing disclosure regulations. The DFPI adopted these regulations pursuant to SB 1235 (Glazer),...
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In a decision published on Wednesday, the California Court of Appeal held that a defendant's due process rights do not protect the sole shareholder of a corporation from an alter ego action. Lopez v. Escamilla, Cal. Ct. Appeal Case No. B316800 (June...
In September 2018, then Governor Jerry Brown signed SB 1235 into law. SB 1235 added a new division to the Financial Code imposing specific loan disclosure requirements on providers of commercial financings. These disclosures include:
At first glance, California Corporations Code Section 17708.01(a) appears to be a rather straightforward enunciation of the "internal affairs doctrine" as applied to foreign limited liability companies:
California Corporations Code Section 22003 effectively deems directors to be all-knowing:
Section 17910 of the California Business & Professions Code requires every person who regularly transacts business in California for profit under a fictitious business name to file a fictitious business name statement. Failure to do so, will...
In accordance with Governor Gavin Newsom's executive order, California's Department of Financial Protection & Innovation is soliciting coments concerning crypto asset related financial products. The DFPI's invitation for comments seeks input on...
Nearly seven years ago, I commented on a California statute defining "fish" to mean "a wild fish, mollusk, crustacean, invertebrate, amphibian, or part, spawn, or ovum of any of those animals". Cal. Fish & Game Code § 45. While I don't consider a...
California has multiple types of nonprofit corporations. The "Big Three" are the public benefit corporation, mutual benefit corporation and religious corporation. The statutes applicable to these three entities are similar in most respects but there...
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