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Generally speaking when situation when an LLC is no longer in good standing there are several consequences:
the LLC cannot go to court (though it can defend an action)
a suspension could lead to forfeiture and the name of the LLC then becomes available to other
Any contract executed by a California suspended LLC is voidable at the demand of the other party.
Any person who attempts or purports to use any of the LLC's powers or privileges while the California LLC is suspended is subject to fines and/or imprisonment.
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is there a code or statute I can read on this
let me see if I can find the statute
the laws and regulations span over a couple of agencies and various statutes and regulations. Here is summary by the secretary of state that discusses the reasons for suspension (click here)
here is an article by the SB bar association that notes some statutes as they related to the FTB (see here bottom left of page 1)
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