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The secretary of state of California is the chief clerk of the U.S. state of California, overseeing a department of 500 people.The secretary of state is elected for four year terms, like the state's other constitutional officers; the officeholder is restricted by term limits to two terms.
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The Department of Corporations was originally known as the "State Corporation Department" and was created by the "Investment Companies Act". [1] Governor Hiram Johnson appointed H.L. Carnahan as California's first Commissioner of Corporations in 1914. The Investment Companies Act faced immediate opposition but was approved by the voters in a ...
In United States business law, a registered agent (also known as a resident agent, [1] statutory agent, [2] or agent for service of process [3]) is a business or individual designated to receive service of process (SOP) when a business entity is a party in a legal action such as a lawsuit or summons. [4]
The state treasurer assumes office by way of election. The term of office is four years, renewable once. Elections for state treasurer are held on a four-year basis concurrently with elections for the offices of governor, lieutenant governor, attorney general, secretary of state, state controller, insurance commissioner, and superintendent of public instruction.
Finally they file the amended articles of incorporation with the secretary of the state. [40] If the prior entity is an LLC or partnership there is an extra step required. For these entities the articles of incorporation themselves and the related bylaws must first be prepared and filed with the state secretary.
Though California does not have a state statute allowing formation of an LLLP, it does recognize LLLPs formed under the laws of another state. [6] While registering an LLLP formed in another state in California will trigger the same annual franchise tax applicable to entities formed California. [ 7 ]
A series limited liability company, commonly known as a series LLC, protected cell company, segregated account company, or segregated portfolio company, and sometimes abbreviated as SLLC, is a form of a limited liability company that provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.