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The Answers . . .

The answers to yesterday's trivia questions are:

  • At least five persons are required to form this type of corporation.

Fish Marketing Association.  Fish marketing associations are governed by the General Corporation Law except when in conflict with the Fish Marketing Act. Cal. Corp. Code § 13204.  The Fish Marketing Act authorizes five or more persons , a majority of whom are California residents, engaged in the production of fishery products, to form an association.

  • Within six months of taking office, board members of this type of corporation must receive at least two hours training from a qualified trainer.

Mutual Water Company. Corporations Code Section 14301.2 requires that each board member of a mutual water company that operates a public water system to comply with the training requirements of Health & Safety Code Section 116755.

  • Any superior court judge in the county in which this type of corporation has its principal office has access "at all times" to its books.

Corporation Sole.  Corporations Code Section 10009 grants this right but provides no explanation as to why.

  • The Bylaws of this type of corporation must authorize the removal of officers only by a two-thirds vote of the directors. 

Nonprofit California Small Business Financial Development Corporation.  Corporations Code Section 14009 imposes this requirement.

  • Any person who willfully and maliciously injures the property of this type of corporation may be liable for three times the amount of actual damages.

Cable Television Corporation.  Part 9, Division 3, Title 1 of the Corporations Code is devoted to cable television corporations.  Part 9, however, consists of a single section - Section 14400.  This statute was transferred from the Civil Code in 1997 as part of a bill that transferred from the Civil Code to the Corporations Code statutes governing, among other things, a variety of specific corporations, including bridge, ferry, wharf, chute and pier corporations, water and canal corporations, societies for the prevention of cruelty to children and animals and nonprofit agricultural marketing associations.  Stats. 1997, c. 598 (S.B. 633 (Ayala)).  

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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
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Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...

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