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1) Depending on the agreement, the seller and buyer sign a Asset Purchase Agreement (if this is an asset purchase) or a Stock Purchase Agreement (if this is a stock purchase). If there is a Stock Purchase Agreement, then a stock document is also signed over by the seller to the buyer.
2) The information is updated with the Ca Secretary of State. If amending the articles of organization, the buyer must use the California Secretary of State’s Certificate of Amendment form where the new list of LLC members is provided under Section 1C.
3) If the company sells fuel, tobacco, alcohol, or other taxable items, then the California State Board of Equalization also has to be updated (let me know if so so I can add on to my answer).
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