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"License? We Don't Need No Stinking License"

The Department of Corporations' jurisdiction is not limited to the Corporate Securities Law of 1968.  In fact, it has an entire division dedicated to financial services regulation.  The Department's Financial Services Division, or FSD, has...

Governor Signs LLC Contractor Bill

Last Thursday, Governor Arnold Schwarzenegger signed SB 392 (Florez) into law.  This bill authorizes the Contractors’ State License Board, commencing no later than January 1, 2012, to issue a contractor’s license to a limited liability company.

"It's Dark as a Dungeon Way Down in the Mines" - CalPERS Declines to Vote Against Massey Energy Co. Proposal

Last week, I expressed surprise in this post about the California Public Employees Retirement System's recent announcement that it plans to abstain on a proposal by Massey Energy Company to jettison cumulative voting.  My surprise was based on the...

Governor Says No To Bill To Combat "Official" Mailings

Many lawyers have received calls from clients asking about notices that they have received regarding state and local government filings.  Sometimes, these notices warn that corporate minutes must be prepared.  Other notices request information...

Governor Signs Flawed Placement Agent Bill

Yesterday, Governor Arnold Schwarzenegger signed AB 1743 (Hernandez).  As discussed in previous posts, this bill will required placement agents for funds and advisers seeking access to CalPERS to register as lobbyists.  As such, they will not be...

CalPERS and Cumulative Voting

California has a strong historical bias in favor of cumulative voting in the election of directors.  In fact, California's 1879 Constitution enshrined cumulative voting as a constitutional right.  Cal. Const. of 1879, Art. XII, § 12 (repealed).  The...

Governor Signs Capital Access Company Bill

Yesterday, Governor Arnold Schwarzenegger signed into law SB 1155 (Dutton).  This bill amends California's unique Capital Access Company Law.  That law was enacted to take advantage of the exemption set forth in Section 6(a)(5)(A) of the Investment...

The Dodd-Frank Act's Exclusion of the "Chief School of Human Virtues"

As has been discussed in earlier posts, Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires the exclusion of the value of an investor's primary residence for purposes of the net worth determination...

LLC Contractor Bill Sent to Governor

On September 16, I wrote that SB 392 (Florez) had been "held at desk" pursuant to Joint Rule 57.  SB 392 would allow an LLC to be licensed as a contractor.   Cal. Const. Art. IV, § 10(b)(2) provides that any bill passed before September 1 (SB 392...

Buying in Bulk in California

"Bulk" is a word that comes into English from the Old Norse language.  It refers to a pile of goods - presumably at the bottom of a Viking ship.  With the growth of commerce, creditors became concerned that merchants would acquire an inventory - a...


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30172DBAB0084D3A8F39D7AF0A8E79BC.ashxKeith Paul Bishop
Partner at Allen Matkins
(949) 353-6328
 Contact me
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