California Corporate & Securities Law

 As a result of the recent enactment of California's 2022-2023 Budget Bill, the California Secretary of State's office as announced a temporary waiver of many business entity filing fees. This waiver will last until June 30, 2023, the end of the...

The California Corporations Code governs the birth and death of a wide variety of entities, including corporations, limited partnerships, and limited liability companies. The provisions relating to each of these types of entities are generally the...

Last month, Governor Gavin Newsom announced the appointment of a general counsel for the Department of Financial Protection & Innovation.  The appointee, a graduate of Georgetown University Law Center, had previously served as a Senior Attorney for...

A dozen years ago, I wrote about California's single subject rule governing legislation - "A statute shall embrace but one subject, which shall be expressed in its title". Cal. Const. Art. IV, § 9. A similar rule applies to initiatives - "An...

An idealized vision of the family farm holds a special place in the psyche of the American people. But what exactly constitutes a "family farm"? That is one of the definitional challenges that the Department of Financial Protection and Innovation...

Diversity jurisdiction of the federal courts requires complete diversity of citizenship. 28 U.S.C. § 1332. If a party is a corporation, then it becomes necessary to determine the location of the corporation's citizenship. In a recent decision,...

The California Corporations Code includes provisions governing a wide variety of nonprofit organizations. However, the "Big 3" categories of nonprofit corporations are the public benefit, mutual benefit and religious corporations. While the drafters...

In 2020, California enacted the California Consumer Financial Protection Law, Cal. Fin. Code § 90000 et seq. The CCFPL authorizes the Department of Financial Protection & Innovation to define unfair, deceptive, and abusive acts and practices in...

This space has previously discussed the question of just how absolute a director's "absolute" right of of inspection really is.  See When Is A Director’s Inspection Right Not Absolute? and Defining The Metes And Bounds Of A Director's Absolute Right...