Business Law

Members of the Opinions Committee and its constituency list are invited to review the Statement of Opinion Practices and the Core Opinion Principles recently published by the ABA Legal Opinions Committee and the Working Group on Legal Opinions Foundation (“WGLO”) in the Business Lawyer (74 The Business Lawyer 801 (2019)). The Statement builds upon the Statement on the Role of Customary Practice in the Preparation and Understanding of Third-Party Legal Opinions, published in 2008 and approved by over thirty bar associations and other lawyer groups. Read more

On July 1, 2019, the California Secretary of State released its first Report on Corporations with Female Board Members. The Report can be found on a new webpage launched by the Secretary of State called Women on Boards. The new webpage provides reports on corporations that have indicated compliance with SB 826 and the universe of identified companies that will have to comply, plus methodology and additional resources. Read more

A single member Limited Liability Company is dissolved when its sole member dies unless either of the following two exceptions apply:
(1) The operating agreement allows the continuation of the LLC and provides a method for determining the successor to the deceased member; or
(2) The heirs, successors, and assigns of the deceased member’s interest elect to continue the LLC within 90 days of the sole member’s death. Read more

Residue of a special needs trust must reimburse DHCS for Medi-Cal payments to deceased beneficiary. Read more

Generally, non-competes are not enforceable in California as set forth in California Business and Professions Code section 16600 which states that, “[e]xcept as provided in this chapter, every contract by which anyone is restrained from engaging in a lawful profession, trade, or business of any kind is to that extent void.” There are some limited exceptions to this rule. One of those exceptions is when an owner of a business sells the company’s goodwill or interests. Read more

The Consumer Financial Services Committee will be holding a meeting on Thursday, July 18, from 11:30 to 12:30. The dial-in number is (855) 520-7605 and conference code is 9085 062 381#. Read more

We are happy to report that CLA’s first-ever Solo and Small Firm Summit, which was held in Huntington Beach last month, was a smash hit! Given that the majority of practitioners (and thus our members) in California are in solo practice or with small firms, it is critical that we provide cutting-edge and practical resources to this demographic. We are pleased that the BLS contributed to the 27 CLE sessions and 13.75 hours of MCLE credit offered at this “The 21st Century Law Firm” program. Read more

Courtesy of CEB, we are bringing you selected legal developments in areas of California business law that are covered by CEB’s publications. This month’s feature is from the April 2019 update to Selecting and Forming Business Entities. References are to the book’s section numbers. See CEB’s CLA Section Member Discount Page for special discounts for Business Law Section members. The most significant legal developments since the last update include developments in such important topic areas as federal tax law, conflicts of interest, LLP eligibility, and blockchain technology. Read more

The BLS’ Health Law Committee, Bet Tzedek Legal Aid Foundation, the California Minority Counsel Program Ambassadors Council, the Southern California Chinese Lawyers Association and the CLA are collaborating with the LA County Law Library to provide a unique volunteer opportunity for attorneys to give back to their community on October 26, 2019. Read more

While summer is often a time of rest, your Business Law Section Executive Committee and Standing Committees remain hard at work preparing the educational programs and in particular, the publications content, which make membership in the BLS so beneficial. For example, the Agribusiness Committee of the Business Law Section is updating its Agricultural Law Sourcebook, and the Insolvency Law Committee is putting the finishing touches on its updated California Assignments for the Benefit of Creditors Desk Guide. In addition, our Commercial Transactions Committee is working on an update to the extensive Hidden Liens Report available on the CLA website, and the BLS’ Partnerships and LLCs Committee is updating its Handbook for Incorporating a Business in California. It is the hard work and dedication of the Sections’ volunteers that enables the BLS to produce the quality publications that makes our Section so special. That is why I ask that you consider joining the Business Law News (BLN) Editorial Board. Read more