Administrative Dissolution of Corporations and LLCs Adopted in California

The following is the text of an e-bulletin that I wrote and that was published by the Corporations Committee of the Business Law Section of the California Lawyers Association. On September 22, 2018, Assembly Bill No. 2503 was signed into … Continue reading

Posted in Corporate Law, Entity Law, Limited Liability Comanies (LLC's), Limited liability companies (LLC), Suspended Entity | Comments Off on Administrative Dissolution of Corporations and LLCs Adopted in California

Perils of Dissolution, or Hey, FTB, Where’s My Dough?

Sometimes a California limited liability company (LLC) or California corporation dissolves and files a final tax return which shows it has a refund coming, but the refund is $800 short. How could this happen? It’s because the Franchise Tax Board (FTB) … Continue reading

Posted in Entity Law, S corporations, Suspended Entity | Tagged , | Comments Off on Perils of Dissolution, or Hey, FTB, Where’s My Dough?

Assignee of Suspended Corporation Cannot Sue on Assigned Claim

In Cal-Western Business Services, Inc. v. Corning Capital Group, Inc. (2013) 221 Cal. App. 4th 304, a judgment creditor assigned to Pacific West One Corp. the judgment creditor’s interest in a judgment against Corning Capital. Then, at a time when Pacific West … Continue reading

Posted in Commercial Law, Corporate Law, Suspended Entity | Comments Off on Assignee of Suspended Corporation Cannot Sue on Assigned Claim