California Corporate & Securities Law

California's version of the Revised Uniform Limited Liability Company Act provides that in the case of a member managed limited liability company provides:

Hillsborough Dev. Co., LLC v. Annen Case No. D074818 (Cal. Ct. App. Aug. 9, 2019) involved a disputed removal of an LLC's manager by a majority of the members. The LLC agreement was silent on how the manager could be removed and the parties did not...

Jarvis Properties is a limited partnership with two general partners. As fate would have it, the two general partners are brothers and each brother holds a 50% interest in the partnership. When one brother, James, sued for partition, the other...

The North Carolina's Supreme Court's recently issued opinion in  Azure Dolphin, LLC v. Barton, 2018 N.C. LEXIS 1036 caught my eye because it involved an interpretation of California Corporations Code Section 15910.02 which establishes the pleading...

Last Friday, I observed that the definitions of "person" found in the Securities Act and the Securities Exchange Act are oddly incongruous. The California Corporations Code is similarly inharmonious. Section 18 of the Code, which applies to the...