News & Analysis as of

Limited Liability Company (LLC) General Corporation Law

Allen Matkins

California May Soon Define "Corporation" To Include That Are Not Corporations

Allen Matkins on

The California Corporations Code is a misnomer.  While the Corporations Code does in fact govern corporations, it also governs a wide variety of unincorporated entities, including general partnerships, limited partnerships,...more

Venable LLP

Changes to Maryland General Corporation Law and Maryland REIT Law Effective October 1, 2024

Venable LLP on

During its 2024 session, the General Assembly of Maryland approved Senate Bill 400 and House Bill 749, amending several provisions of the Maryland General Corporation Law (the "MGCL") and the Maryland REIT Law (the "MRL"),...more

Allen Matkins

When A California Corporation Converts To A California Limited Liability Company, What Happens To Its Nevada Business License?

Allen Matkins on

NRS 107.028(1)(d) requires that a trustee under a deed of trust be a "domestic or foreign entity which holds a current state business license issued by the Secretary of State pursuant to chapter 76 of NRS".   In Mahban v....more

Allen Matkins

Nevada Supreme Court Clarifies Alter Ego Liability Of LLC Members

Allen Matkins on

Laura Graham was injured when she tripped over a sprinkler box located on property owned by a single member limited liability company.  She sued the LLC and asserted that its member was the alter ego of the LLC and the case...more

Allen Matkins

Not Every California Corporation Is Governed By The California General Corporation Law

Allen Matkins on

The California General Corporation Law is part of the California Corporations Code, but not every corporation incorporated in California is formed or governed by the General Corporation Law.   In fact, the Corporations Code...more

Allen Matkins

What Egregious Error Have Courts Made Nearly 9,000 Times (And Counting)?

Allen Matkins on

In a recently published article, Professors Samantha J. Prince & Joshua P. Fershée focus on the propensity to conflate corporations with limited liability companies...more

Allen Matkins

California Says Corporations And LLCs Can't Be Directors; The Securities Exchange Act Apparently Believes Otherwise

Allen Matkins on

Nine years ago, I posed the question of whether the California General Corporation Law permits corporations to serve as directors.  My answer at the time was "no" because Section 164 of the Corporations Code defines...more

Brownstein Hyatt Farber Schreck

Nevada Corporation and LLC Law Amendments Include Innovations for Public Companies

With broad bipartisan support emblematic of the state’s pro-business atmosphere, the Nevada Legislature has approved—and Gov. Joe Lombardo has signed—Assembly Bill No. 126 (AB 126)....more

Venable LLP

Changes to Maryland General Corporation Law and Maryland REIT Law Effective October 1, 2023

Venable LLP on

The General Assembly of Maryland has enacted House Bill 209 (Chapter 560 of the Laws of Maryland 2023), amending several provisions of the Maryland General Corporation Law (the "MGCL"), the Maryland REIT Law (the "MRL") and...more

Allen Matkins

A Key Difference Between Corporate And LLC Buyout Rights That You May Have Missed

Allen Matkins on

Both the California General Corporation Law and the California Revised Uniform Limited Liability Company Act include provisions granting shareholders/members the right to avoid a dissolution of the corporation/LLC under...more

Winstead PC

Presentation: Minority Investor Rights in Private Companies: Buy-Sell Agreements, Court-Ordered Buyouts, Breach of Fiduciary Duty

Winstead PC on

David F. Johnson co-presented “Minority Investor Rights in Private Companies: Buy-Sell Agreements, Court-Ordered Buyouts, Breach of Fiduciary Duty” for a nationwide audience for Stafford Webinars on January 20, 2021. David...more

Dorsey & Whitney LLP

Mergers Involving Delaware LLCs Don’t Trigger Appraisal Rights - Except When They Do

Dorsey & Whitney LLP on

When parties consider an M&A transaction involving a merger, a factor that is top of mind for counsel is complying with the statutory appraisal procedures afforded to holders of equity in the merging entity who do not consent...more

Allen Matkins

Does California Law Apply To A Derivative Action Brought By Members Of A Foreign LLC?

Allen Matkins on

In a ruling handed down this week, U.S. District Judge Lawrence J. O'Neill addressed whether California law applied to derivative claims apparently brought on behalf of an Oregon entity. I found Judge O'Neill's ruling...more

Allen Matkins

Why A Delaware Corporation Can Not Be A Subsidiary Of A California Corporation

Allen Matkins on

The California General Corporation Law defines a "subsidiary" of a specified corporation to be a "corporation shares of which possessing more than 50% of the voting power are owned directly or indirectly through one or more...more

Allen Matkins

LLCs Are Found In The Corporations Code But They Are Not Corporations

Allen Matkins on

As one might expect, the California Corporations Code includes California General Corporation Law. The Corporations Code covers a lot more than corporations, however. It includes, for example, California's partnership,...more

Farrell Fritz, P.C.

Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 2

Farrell Fritz, P.C. on

...So you, or your client, have found yourself in an appraisal proceeding. The question then becomes: What are the legal rules, principles, and standards that apply in the valuation proceeding itself? That is the subject of...more

Saul Ewing LLP

2018 Delaware General Corporate Law Amendments

Saul Ewing LLP on

On July 23, 2018, Delaware Governor John Carney signed into law the 2018 amendments to the General Corporation Law of the State of Delaware, the Delaware Limited Liability Company Act and the Delaware Revised Uniform...more

Farrell Fritz, P.C.

Basics Of Valuation Proceedings – Litigating An Appraisal From Start To Finish – Part 1

Farrell Fritz, P.C. on

Last month, seasoned business appraiser Andy Ross of Getty Marcus CPA, P.C., and I made a presentation at the Nassau County Bar Association about appraisal proceedings in business divorce cases. With the subject of business...more

Allen Matkins

One More Thing That A Limited Liability Company May Not Be Able To Do

Allen Matkins on

California law does not permit limited liability companies to render a variety of professional services. See, Contractors Do It, PIs Do It; Why Not Real Estate Brokers? To add insult to injury, the California General...more

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