The firm drafted and successfully aided the passing of legislation permitting California limited liability companies to possess California contractor’s licenses. Senate Bill 392 fundamentally revised California’s Contractors State License Law and authorizes the California Contractors State License Board to begin issuing contractor’s licenses to limited liability companies no later than January 1, 2012. Senate Bill 392 allows contractors for the first time to take advantage of the management and tax benefits of organizing as a limited liability company, an advantage advocated by the firm’s transactional and estate planning practice groups for the construction industry.
Enacted September 30, 2010, as amendments to California’s Contractor’s State License Law codified at California Business & Professions Code Section 7000 et seq. and California Corporations Code Section 17002
Counsel: P. Randolph Finch Jr. and David S. Demian