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Corporations Code § 171 defines ?foreign corporation? to mean any corporation other than a domestic corporation. Basically, a foreign corporation is a corporation not formed under California laws. A foreign corporation that transacts business in California is subject to the General Corporation Law.
Under Section 317, subdivision (b), California corporations have the power to indemnify any person who was or is a party or is threatened to be made a party (other than an action by or in the right of the corporation to procure a judgment in its favor) by reason of the fact that the person is or was an agent of the ...
Section 503: Section 503 concerns distributions to junior shares that affect cumulative dividends to senior shares that are in arrears.
(a) Upon the filing of an action therefor by any shareholder or by any person who claims to have been denied the right to vote, the superior court of the proper county shall try and determine the validity of any election or appointment of any director of any domestic corporation, or of any foreign corporation if the ...
Basics of California Corporations Code 25102 Under Section 25102(f), startup companies can issue certain securities without having to meet the qualifications that might apply to other companies. To use this exemption, the owners of a company need to file a limited offering exemption notice.
(a) In order that the corporation may determine the shareholders entitled to notice of any meeting or to vote or entitled to receive payment of any dividend or other distribution or allotment of any rights or entitled to exercise any rights in respect of any other lawful action, the board may fix, in advance, a record ...
The board may cause scrip or warrants to be issued subject to the condition that they shall become void if not exchanged for full shares before a specified date or that the shares for which scrip or warrants are exchangeable may be sold by the corporation and the proceeds thereof distributed to the holder of the scrip ...
(b) No shareholder shall be entitled to cumulate votes (i.e., cast for any candidate a number of votes greater than the number of votes that the shareholder normally is entitled to cast) unless the candidate or candidates' names have been placed in nomination prior to the voting and the shareholder has given notice at ...