Two years ago, California enacted SB 1235 (2018 Cal. Stats. ch. 1011) requiring providers of commercial financing to disclose certain information to the businesses seeking financing. The Department of Financial Protection and Innovation solicited comments informally and in September issued proposed regulations. See DBO Proposes Commercial Loan Disclosure Rules. The Comment period expired in October but the Department has announced that a public hearing will be held today (November 9) at 1:00 p.m. (California time). The hearing will be held by means of Zoom. For those who want to listen (but not comment), there is also a telephone number: 1‐888‐363‐4734 (Toll Free) 1‐215‐446‐3656 Conference Code: 611586.
California Corporate/LLC Law Update
For those interested in an update on California's General Corporation Law and Revised Uniform Limited Liability Company Act, I will be joining Phil Jelsma in a webinar at noon (California time) hosted by the San Diego County Bar Association. Registration information is available here.