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As The Clock Winds Down, Criticism Of California's Gender Quota Bill Winds Up

The Governor has until this Sunday to sign or veto bills passed by the legislature before September 1.  Cal. Const. Art. IV, Sec. 10(b)(2).  One bill in the Governor's inbox is SB 826.  If signed by the Governor, SB 826 would impose gender quotas on...

Corporate Governance

What Can Be Done When Shareholders Can't Be Found Or Creditors Won't Accept Payment

What is a corporation to do when:

  • A shareholder is unknown;
  • A shareholder fails or refuses to accept their payment, dividend, or distribution in cash or property;
  • A shareholder's whereabouts cannot be ascertained after diligent inquiry;
  • The...

Corporate Governance

A Not So Fabulous Fable Of Shareholder Inspection

This not so fabulous fable is about a small Nevada corporation, Cwmni Cyfyngedig, Inc. ("CCL").  It is set in the not too distant future.

Dick Plantagenet had founded CCL as a purveyor of red and white rose themed products.  Needing more capital,...

Corporate Governance

Increasing The Size Of The Board And Rounding Out The Hours

Yesterday, I noted that California's proposed board gender quota bill, SB 826, includes the following provision: "A corporation may increase the number of directors on its board to comply with this section".  I'm not sure what to make of this...

Corporate Governance

The SEC's New C&DI And Cumulative Voting

Last Friday, the staff of the Securities and Exchange Commission issued 45 new Compliance & Disclosure Interpretations relating to proxy solicitations and related schedules.  One of these dealt with the issue of cumulative voting:

Question 124.01:...

Corporate Governance

Is The Codification Of A Director's Standard Of Care A "Liability Created By Law"?

By codifying the standard of performance of directors in Corporations Code Section 309 did the legislature create a liability by law? 

But first, why would this even be a question?  It is a question because California Code of Civil Procedure...

Corporate Governance

Pay Ratios And Sustainability

California Senator Benjamin Allen would like to establish an Office of Sustainability within the Governor’s Office of Business and Economic Development, also known as GO-Biz.  His bill, SB 950, would require the Office of Sustainability to establish...

Corporate Governance

Legislator Seeks University Study Of Diversity At California High Technology Companies

California Assemblymember Chris Holden has authored a bill that would require the University of California to conduct a study of the racial and ethnic diversity of the board of directors and employees of California high technology companies.  The...

Corporate Governance

Legislature Mulls Mandating Board Interviews Of Everyone But Nonbinary Persons And Caucasian Males

I have previously written about one California legislator's plan to impose gender quotas on publicly traded companies that have their principal executive offices in the state.  The bill is being heard today by the Senate Banking and Financial...

Corporate Governance

California Bill Would Mandate Gender Quotas For Publicly Traded Companies

Earlier this month, California Senators Hannah-Beth Jackson and Toni G. Atkins introduced a bill, SB 826, that would require a publicly held corporation with its principal places of business in California to have a minimum number of women...

Legislation, Corporate Governance

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