Month: October 2016
S Corporations and Buy-Sell Agreements: Avoiding the Inadvertent Creation of a Second Class of Stock
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…
Read MoreA 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…
Read MoreUnder 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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