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CALIFORNIA CORPORATE & SECURITIES LAW

Removing Elected Officials For Libelous Or Slanderous Statements

In recent years political smearing and outright lying have come to dominate campaigns in California. Candidates are spending less and less time discussing important issues and their own qualifications and more and more time telling falsehoods about their opponents. Although the above quotation sounds as if it could have been written today, it was in…

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Just When Does That Law Take Effect?

The California legislature sits in a two-year session known as a biennium.  The current session is the 2015-2016 session.  The first year of the session ended on September 11, 2015.  That was the last day for the legislature to pass bills.  Joint Rule 61(a)(14). The legislature’s passage of a bill does not necessarily mean that…

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Legislator Fires Broadside At Franchisors

California has not one, but two franchise laws.  The Franchise Investment Law (“FIL”), Corporations Code Section 31000 et seq., is administered and enforced by the the Commissioner of Corporations.  The Franchise Relations Act (“FRA”) is located in the Business & Professions Code (Section 20000 et seq.) and is not administered or enforced by the Commissioner.…

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Legislature Poised To Impose Huge Costs By Rewriting Every California LLC Operating Agreement

On January 1, 2016, the operating agreement of every limited liability company organized under Beverly-Killea Limited Liability Company Act, Cal. Corp. Code §§ 17000 et seq. may be amended.  This is no Millerite prophecy.  The legislature is poised to pass SB 323 (Vargas) when it returns from its summer recess on August 6.  That bill would make the…

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