Not As Rare As an Ivory-Billed Woodpecker, But Still A Rara Avis

In 2005, the birdwatching world was stunned by the announcement of the re-discovery of the Ivory-Billed Woodpecker, a magnificent member of the Picidae family thought to have become extinct more than a half century ago. At the Office of...

Bill Illustrates Ills Besetting Corporate Fraud Fund

In 2002, the Legislature enacted AB 55 creating the victims of corporate fraud fund.  Since the fund was created, it has collected about $15 million and nearly 800 claims have been submitted.  In a devastating article published last fall by the ...

Why Are Legislators Sitting On The Little Hoover Commission?

I've been writing recently about the Milton-Marks “Little Hoover” Commission on California State Government Organization and the Economy which has an important task in reviewing Governor Jerry Brown's proposed reorganization plan.

When Asking For Spousal Consent Is Unlawful

From time to time, a question will arise about the necessity of obtaining spousal consent in connection with the purchase or sale of a security. Interestingly, California declares it unlawful for any agent or broker-dealer to require prior spousal...

Just What Is The State Auditor And What Does She Do Anyway?

In yesterday's post, I mentioned that the  Milton Marks “Little Hoover” Commission on California State Government Organization and the Economy oversees the Bureau of State AuditsSee Government Code Sections 8542 and 8543.

The Little Hoover Commission And The Architecture Of Power

Last week, I testified before the Milton Marks "Little Hoover" Commission on California State Government Organization and the Economy concerning Governor Jerry Brown's 2012 Reorganization Plan.  My written comments are available here.

Cannabis, Collectives, Cooperatives And The California Corporations Code

In reviewing recent California cases involving the Corporations Code, I was surprised to see several recent, published and and unpublished opinions dealing with marijuana dispensaries. I never would have imagined that California's laws governing...

Court Applies California Demand Requirement To Scottish Company (Again)

Last December, I wrote about U.S. District Court Judge Jeremy Fogel's decision in Johnson v. Myers, 2011 U.S. Dist. LEXIS 112897 (N.D. Cal. Sept. 30, 2011). The case involved an attempt by some of the stockholders of a liquidated Scottish...

California May Be The First State To Require Corporations To Disclose Compensation Paid To Retired Executives

Since 2002, California has imposed its own disclosure requirements on publicly traded corporations incorporated in or qualified to transact intrastate business in California. A subject corporation is currently required to disclose, among other...