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CALIFORNIA CORPORATE & SECURITIES LAW

Liechtenstein And Article II, Section 1 Of The Constitution

I spent the Fourth of July holiday in the Fürstentum Liechtenstein, a very beautiful and surprisingly inaccessible part of Europe.  Its capital city has no airport.  The country is also largely vertical, as it is sandwiched in the Alps between Austria and Switzerland.  While enjoying a cappuccino in an outdoor cafe in Vaduz, the principality’s capital,…

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In What Branch Of Government Are State Agencies?

Article III, Section 3 of the California Constitution declares that the powers of state government are legislative, executive and judicial.  Section 3 then explicitly provides that “Persons charged with the exercise of one power may not exercise either of the others except as permitted by this Constitution.”  This is what the Constitution says, but is…

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Why The Word “Includes” Conflates The Separation Of Powers

There are many ways to define a term.  Many definitions are “intensional definitions”.   An intensional definition lays down all of the properties required to meet that definition.  For example, Corporations Code Section 185 provides that “Shareholder” means “one who is a holder of record of shares.”  That is, the necessary and sufficient condition for belonging…

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