Keith Paul Bishop

Keith Paul Bishop

Allen Matkins Leck Gamble Mallory & Natsis LLP

Contact  |  View Bio  |  RSS

Latest Publications

Share:

Dismissal Of Involuntary Dissolution Action Pulls The Plug On Corporate Buy Out

Sometimes, shareholders are divided on whether a corporation should live or die. In these cases, the California Corporations Code provides an option that allows for the continued existence of a corporation. In any action...more

5/4/2015 - Buyouts Cal Code of Civil Procedure Control Buyouts Corporate Dissolution Derivative Suit Shareholder Votes

There Two Ways To Create An Obligation And Six Ways To Extinguish It

The California defines an “obligation” as “a legal duty, by which a person is bound to do or not to do a certain thing.” Cal. Civ. Code § 1427. An obligation is created in one of two ways: by contract or by operation of...more

4/30/2015 - Contract Disputes Contract Formation Contract Terms

Bill Would Clarify When Limited Partnership Life Begins

When does life begin for a California limited partnership?  The California Uniform Limited Partnership Act of 2008 seems to provide an inconsistent answers.  The first is found in Corporations Code Section 15902.01(a)....more

4/29/2015 - Corporations Code Limited Partnerships Proposed Amendments RULLCA

What Exactly Does The SEC Mean By “Permit”?

The Securities and Exchange Commission has proposed rule amendments to implement Section 955 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L.  No. 111-203, 124 Stat. 1900 (July 21, 2010).  Among other...more

4/27/2015 - Dodd-Frank Proposed Amendments Regulation S-K SEC

CalPERS Board Member Contests Attorney General’s Conflicts Position

Last December, I wrote about J.J. Jelincic, a long-term CalPERS employee who was elected for a four-year term to the Board of Administration of the California Public Employees Retirement System (aka CalPERS). Following Mr....more

4/24/2015 - Board of Directors CalPERS Carbon Emissions

Finders Bill Finds Success In Assembly Committee

In February, I wrote about the resurrection of a bill that would clarify the status of finders under the California Corporate Securities Law of 1968.  Earlier this week, the bill, AB 667 (Wagner) cleared its first policy...more

4/23/2015 - Bar Associations Finders Legislative Committees

Who Files The Most Permit Applications?

California Corporations Code Section 25113(d) requires the Commissioner of Business Oversight to prepare and publicize an annual report of the number of permits that it issues for the offer and sale of securities. The report...more

4/22/2015 - Annual Reports Churches Corporations Code Department of Business Oversight Permits

How Many Board Members Are Required To Take Action?

Suppose your corporation has a five member board of directors but two seats are vacant.  Suppose further that your corporate bylaws included the following two provisions: A.  Three members of the board shall...more

4/21/2015 - Board of Directors Bylaws Corporate Governance Corporations Code Quorum

Will California Require Notice Filings For Regulation A Offerings?

Last month, the Securities and Exchange Commission adopted amendments to Regulation A as required by Section 3(b)(2) of the Securities Act of 1933, which was added by Section 401 of the Jumpstart Our Business Startups (JOBS)...more

4/20/2015 - Amended Regulation Department of Business Oversight Issuers JOBS Act Qualified Purchaser Regulation A SEC

California AG Asks Retailers And Manufacturers To Report On Supply Chains Act Compliance

The California Attorney General’s office recently sent letters to retailers and manufacturers asking them to demonstrate compliance with the California Transparency in Supply Chains Act or why they are not subject to the act....more

4/17/2015 - Human Trafficking Manufacturers Reporting Requirements Retailers Supply Chain Supply Contracts

Study Concludes That California’s Lending Laws Are Number One

In a recently published paper, Colleen Honigsberg, Sharon P. Katz, and Gil Sadka examine the relationship between debt contracts and state law.  Perhaps only Captain Renault will be shocked by their finding that “California...more

4/16/2015 - Banking Sector Debtors Financial Institutions Lenders

Email Notice Without Consent Is Not Notice

The California General Corporation Law unequivocally authorizes the giving of notice of stockholder meetings by electronic transmission. Section 601(b) provides “Notice of a shareholders’ meeting or any report shall be given...more

4/15/2015 - Corporate Officers Corporations Code Directors Electronic Communications Email Hedging Proposed Regulation SEC Shareholder Meetings Shareholders Written Notice

Do Your Bylaws Make Obtaining Waivers Of Notice More Onerous?

Yesterday’s post concerned waivers of notice of shareholders’ meetings under Section 602 of the California Corporations Code.  Although not required to do so, corporate bylaws often parrot the statute.  One popular guidebook,...more

4/14/2015 - Bylaws Corporate Governance Corporations Code Email Shareholder Meetings Shareholders Waiver of Notice

Why Your Shareholder Meeting Waivers Of Notice May Not Be Up To Snuff

Like other states, California generally requires that whenever shareholders are required or permitted to take action at a meeting, notice of that meeting must be given to the shareholders entitled to vote. Cal. Corp. Code §...more

4/13/2015 - Annual Meeting Corporate Governance SEC Shareholder Meetings Waiver of Notice

DBO Establishes Protocol With To Block Unlicensed Payday Lenders’ Ads

When I served as California’s Commissioner of Corporations, Internet commerce was just finding its legs and we were concerned about how to apply the Corporate Securities Laws to this new technology. For state regulators, the...more

4/10/2015 - Advertising Bing Consumer Lenders Department of Business Oversight E-Commerce Google Licensing Rules Payday Loans Yahoo!

Could The SEC Ask Airlines To Produce Data On Delayed And Canceled Flights?

The following story is fiction.   It was imagined following the SEC’s recently settled action against KBR, Inc. Airlines were caught completely off guard yesterday by SEC letters asking that they produce five years of...more

4/9/2015 - Airlines KBR (formerly Kellogg Brown & Root) Request For Information Rule 21F SEC Whistleblower Protection Policies Whistleblowers

Times May Change But Politicians Don’t

Recently, I’ve been reading about the Greek playwright Euripides. It is said that Socrates rarely attended plays, but never missed a play by Euripides.  Technology has changed dramatically since the fifth century B.C.E., but...more

4/8/2015 - CA Supreme Court Criminal Prosecution Theater Productions

Are The SEC’s Canons Of Ethics Written In The Wind And Waves?

It’s easy to be annoyed by the SEC’s failure to comply with clear statutory mandates. However, not everyone is longanimous. Oxfam America, for example, has moved beyond irritation to litigation. Oxfam America’s suit is...more

4/7/2015 - Dodd-Frank Oxfam America Reporting Requirements SEC Section 1504

Is Chametz A Good?

The Jewish holiday of Passover begins at sundown this evening.  In preparation for Passover, observant Jews must dispose of absolutely all chametz, which is basically any food that is made with grain and water that has been...more

4/3/2015 - Choice-of-Law Goods

Investors Claim Failure To Qualify Justifies Issuer’s Return Of Investment

The remedy for failure to qualify the sale of a security is either rescission or damages. Cal. Corp. Code § 25503. Thus, one typically expects to see investors alleging a failure to qualify as grounds for returning their...more

4/2/2015 - Damages Investors Issuers Limited Offering Exemption Rescission

Welcome To California: No Foreign Corporations Need Apply

California continues to hemorrhage corporate charters to Delaware and Nevada.  The most recent potential emigrant is SJW Corp. which filed this proxy statement last week seeking shareholder approval of a reincorporation from...more

4/1/2015 - Business Formation Department of Business Oversight Interstate Commerce Principal Place of Business

Substantial, Systematic, And Continuous Contacts Do Not Establish General Jurisdiction

California courts may exercise personal jurisdiction over nonresidents “on any basis not inconsistent with the Constitution of this state or of the United States”. Code Civ. Proc. § 410.10. Seventy years ago, Chief Justice...more

3/31/2015 - Forum State Jurisdiction Railroads

District Court Refuses To Halt SEC Administrative Proceedings

While serving as General Counsel to California’s Business, Transportation & Housing Agency, I was from time to time asked to respond to ersatz summons and other documents issued by “Our One Supreme Court”. Given that these...more

3/30/2015 - Administrative Hearings Bebo v SEC Enforcement Actions SEC

Did The Judge’s Ruling Truly Decimate The Defendant’s Contention?

Yesterday’s post concerned Justice M. Kathleen Butz’ recent holding in Yee v. Am. Nat’l Ins. Co., 2015 Cal. App. LEXIS 257 (Cal. Ct. App. 2015).  The case involved the California Controller’s attempt to examine the records of...more

3/26/2015 - Audits Books & Records Insurers

Controller Must Still “Look To Find A Reason To Believe”

Last month, I wrote about reports that the SEC is seeking years of employment agreements, nondisclosure agreements and other documents in an effort to ferret out possible restraints on whistleblowers. See Is Anything Fishy...more

3/25/2015 - Insurance Industry Life Insurance Standard of Review Unclaimed Property

599 Results
|
View per page
Page: of 24

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×