California Business and Professions Code

§ 23405.2

BPC § 23405.2 Effective Jan 1, 2013Div. 9 · Ch. 3 · Art. 3

Statute text

(a)Any limited liability company holding a license under this division shall maintain a record of its members at the principal office of the company in California and the record of its members shall be available to the department for inspection. The company shall report to the department in writing any of the following:

(1)Issuance or transfer of memberships to any person where the issuance or transfer results in the person owning 10 percent or more of the voting interests of the company.

(2)If the limited liability company is managed by a manager or managers, any change in the manager or managers of the company.

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Legislative history

Amended by Stats. 2012, Ch. 419, Sec. 3. (SB 323) Effective January 1, 2013. Operative January 1, 2014, by Sec. 32 of Ch. 419.