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BizIPEsq.
BizIPEsq., Attorney
Category: Business Law
Satisfied Customers: 996
Experience:  I am a business attorney. I represent individuals and companies with all business related matters.
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When a LLC in California is not in good standing in the state

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When a LLC in California is not in good standing in the state what are all the powers that it looses.

BizIPEsq. :

Hello, I will be assisting you.

BizIPEsq. :

Generally speaking when situation when an LLC is no longer in good standing there are several consequences:

BizIPEsq. :

the LLC cannot go to court (though it can defend an action)

BizIPEsq. :

a suspension could lead to forfeiture and the name of the LLC then becomes available to other

BizIPEsq. :

Any contract executed by a California suspended LLC is voidable at the demand of the other party.

BizIPEsq. :

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.

BizIPEsq. :

Thank you for allowing me to assist you

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Please rate my service

Customer:

is there a code or statute I can read on this

BizIPEsq. :

let me see if I can find the statute

BizIPEsq. :

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)

BizIPEsq. :

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)

BizIPEsq. :

thank you for allowing me to assist you

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