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CALIFORNIA CORPORATE & SECURITIES LAW

Governor Signs Finders Exemption Bill

Yesterday was the last day for Governor Brown to sign or veto bills passed by the Legislature on or before September 11 and in the his possession after that date.  Cal. Const. Art. IV, § 10(b)(1).  On Saturday, he signed into law a bill that will create a statutory exemption for “finders” from the securities broker-dealer registration…

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Why Doesn’t California Have A Labor Day?

Federal law establishes ten “legal public holidays”, including “Labor Day, the first Monday in September”.  5 U.S.C. § 6103.  California, on the other hand, names “Labor Day” in several statutes (e.g., Civil Code § 1689.24) but doesn’t designate Labor Day as a state holiday by name.  California Government Code Section 6700(a) lists 16 “holidays in this state”.  Although the…

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