Chapter 5 of the California General Corporation Law imposes certain limitations on a corporation's distributions to its shareholders. Section 166 of the Corporations Code defines "distribution to its shareholders" to include the purchase or...
Court Rules Share Repurchase Is Not Subject To CGCL Limitations
Posted on November 21, 2019
Referring To Extraneous Agreements In The Articles of Incorporation
Posted on June 09, 2017
I didn't take note of AB 1535 (Maienschein) when it was introduced earlier this year because I thought it was a "spot" bill. See "See Spot Run". As introduced, the bill simply added "which may include a reference to a separate shareholder...
Partnership Dissolution And A Chief Judge's Lament
Posted on May 15, 2017
Decisions by U.S. District Court judges typically begin with an identification of the parties, an explanation of the procedural posture of the case, or a description of the dispute. Chief Judge Lawrence J. O'Neill, however, chose to begin a recent...