Month: October 2016

S Corporations and Buy-Sell Agreements: Avoiding the Inadvertent Creation of a Second Class of Stock

October 28, 2016

Buy-sell agreements are frequently used by shareholders of both S corporations and C corporations to facilitate the orderly transition of ownership in the corporation and restrict the ability of the shareholders to transfer their shares. When preparing a buy-sell agreement for an S corporation, however, special consideration must be given to ensure that the agreement does not…

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On January 1, 2017, Commercial Landlords to be Subject to Additional Disclosure Obligations Regarding Construction-Related Accessibility Standards

October 12, 2016

A new California law will soon impose additional disclosure obligations on commercial landlords. Existing law (California Civil Code § 1938) requires a commercial landlord to state in every lease or rental agreement entered into on or after January 1, 2013, whether the premises being leased or rented have been inspected by a Certified Access Specialist…

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Dissolving a California Limited Liability Company Will Be Easier in 2017, or Will it?

October 12, 2016

Under existing law, a California limited liability company, or LLC, may be dissolved, and its activities wound up, if, among other things, a majority of the members of the LLC votes to dissolve, unless the LLC’s articles of organization or operating agreement provide for a higher percentage. This majority requirement means that, for LLCs with…

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