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CALIFORNIA CORPORATE & SECURITIES LAW

When Partnership “Members” Are Employees

Last week, I wrote about how AB 2883 changes the definition of “employee” vis-a-vis corporate directors.  See Is A Corporate Director An Employee Subject To Workers’ Compensation?  AB 2883 also rewrites the definition of “employee” for purposes of partnerships and limited liability companies.  Effective January 1, 2017, an “employee” for purposes of California’s workers’ compensation law…

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Nevada Supreme Court Clarifies Status of LLC Charging Orders

Last week, the Nevada Supreme Court analyzed the rights of a judgment creditor of a member/manager of a limited liability company.  In Weddell v. H2O, Inc., 2012 Nev. LEXIS 26 (March 1, 2012), the court reviewed the development of Nevada’s LLC legislation and provided a historical overview of the charging order remedy, citing my book, Bishop…

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The CSL And Membership Interests In LLCs

Two decades ago, Bob Rizzi and I wrote an article for the California Business Law Reporter asking whether limited liability company legislation would ever be enacted in California.  Only three years later, California enacted the Beverly-Killea Limited Liability Company Act, Corporations Code Section 17000 et seq.  Stats. 1994, c. 1200 (SB 469). As a member of…

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LLC Contractor Bill Sent to Governor

On September 16, I wrote that SB 392 (Florez) had been “held at desk” pursuant to Joint Rule 57.  SB 392 would allow an LLC to be licensed as a contractor.   Cal. Const. Art. IV, § 10(b)(2) provides that any bill passed before September 1 (SB 392 was passed on August 30) and in the possession…

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LLC Contractor License Bill Moves One Step Forward

A lot of bills didn’t make it out of the legislature by the August 31 deadline.   However, SB 392 (Florez) was one of the fortunate few to make it to enrollment.  If signed into law by Governor Schwarzenegger, this bill will allow limited liability companies to render contractor services that are “professional services” otherwise prohibited by the…

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