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CALIFORNIA CORPORATE & SECURITIES LAW

Incorporating In Delaware May Not Eliminate Director Liability Under This California Statute

Some readers may have skipped this week’s posts discussing director liability under California Corporations Code Section 316 on the theory that the statute applies only to directors of corporations incorporated under the General Corporation Law. ┬áThat could be a big mistake. ┬áCalifornia’s pseudo foreign corporation statute, Corporations Code Section 2115, applies Section 316 to foreign…

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