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CALIFORNIA CORPORATE & SECURITIES LAW

Is A Corporate Director An Employee Subject To Workers’ Compensation?

  Corporate lawyers tend to believe that directors and officers are not ineluctably employees.  Thus, it may come as a surprise that California’s workers’ compensation law has for some time defined an “employee” to include officers and directors: All officers and members of boards of directors of quasi-public or private corporations while rendering actual service…

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Court Rules Fixed Income Annuity Is Not A Security Under The CSL

Because annuity contracts involve the payment of money in the expectation of future payments, one might conclude that they are securities within the meaning of the California Corporate Securities Law of 1968.  Evidently, that is what Mr. Abbit or at least his lawyer believed when they filed a class action lawsuit against an insurer alleging,…

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“It must be confessed! It WILL be confessed! There is no refuge from confession . . .”

In 2003, California Senator Martha Escutia introduced a bill to make “technical nonsubstantive changes” to a provision of the California Civil Code dealing with construction defects.  The bill passed out of the Senate and the Assembly without attracting a single vote of opposition.  However, a funny thing happened on the bill’s journey downstairs to the Governor’s office –…

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