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CALIFORNIA CORPORATE & SECURITIES LAW

Happy New Biennium!

“Biennial” is a confusing word.  The Nevada legislature meets biennially, i.e., every other year while the California legislative session is biennial, i.e., lasting two years. “Biennial” should not be confused with “biannual” which normally means twice a year. The California legislature meets annually but the legislative session is biennial.  Last Monday, for example, the California legislature convened for the…

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Assembly To Consider Mandatory Indemnification Of LLC Agents

The California legislature operates on a two-year schedule.  Cal. Const. Art. IV, Sec.3(a).  The legislature will convene for the second year of the current biennium next Monday (Jan. 6).  J.R. 51(a).  One immediate job for the returning legislators will be to consider pending bills introduced in the first year.  Under the Joint Rules of the…

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