September 24, 2020

Volume X, Number 268

September 23, 2020

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September 22, 2020

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September 21, 2020

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They Say That Breaking Up Is Hard To Do...Will Californians Vote On Secession?

"It was that population that gave to California a name for getting up astounding enterprises and rushing them through with a magnificent dash and daring and a recklessness of cost or consequences, which she bears unto this day — and when she projects a new surprise the grave world smiles as usual and says, 'Well, that is California all over.'" 
Mark Twain, Roughing It

Californians may be voting on whether to leave the United States and join the nations of the world as a stand alone country.  Last week, the California Secretary of State's office announced that a proposed initiative has been cleared for circulation that would put the question on a future ballot.  If 50% of registered voters participate in election; and 55% of those voting approve, the result would be treated as vote of "no confidence in the United States".  Thus, an approval vote would not necessarily result in immediate secession (even assuming that the federal government would assent).  The proponent has until March 8, 2021 to  collect signatures of 623,212 registered voters (five percent of the total votes cast for Governor in the November 2018 general election) in order to qualify the initiative  for the ballot. 

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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
Partner

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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