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Holly, <br><br>
Although it has no direct impact on the current discussion, could you
please further elaborate on your statement at the top of page 2 that the
corporation can be dissolved by a simple majority of a minimal quorum
(5/9/16). The California statute [1900.5.a and 1900.5.a(7)] seems to
state that for dissolution, a majority of directors must sign a
certificate of dissolution. That would imply that 9 were required
(presuming the Board had its full complement of voting directors at that
time).<br><br>
Alan<br><br>
At 02/10/2015 03:38 PM, Gregory, Holly wrote:<br><br>
<blockquote type=cite class=cite cite="">Thomas, Mathieu and Leon and
CCWG,, <br>
In addition to slides comparing the Sole Member, Sole Designator
and Board Proposal from last week (which we understand did not get posted
yet) , we are providing a memo as requested in LA that discusses how the
statutory rights of a member can be constrained in the Sole Member model.
<br>
Kind regards, Holly and Rosemary<br>
<br>
<br>
<b>HOLLY</b> <b>GREGORY</b><br>
Partner<br><br>
<b>Sidley Austin LLP<br>
</b>+1 212 839 5853<br>
<a href="mailto:holly.gregory@sidley.com">holly.gregory@sidley.com</a><br>
<br>
<br><br>
<br><br>
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Content-Type: application/pdf; name="CCWG Memo_ Constraining the
Exercise of"<br>
Statutory Rights (00719283xA3536....pdf"<br>
Content-Description: CCWG Memo_ Constraining the Exercise of
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Content-Type:
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name="Revised Slides - Key Characteristics Comparison. CMSM, CMSD,
and Board"<br>
P....pptx"<br>
Content-Description: Revised Slides - Key Characteristics Comparison.
CMSM,<br>
CMSD, and Board P....pptx<br>
Content-Disposition: attachment; filename="Revised Slides -
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creation-date="Fri, 02 Oct 2015 19:20:06 GMT";<br>
<x-tab> </x-tab>
modification-date="Fri, 02 Oct 2015 19:20:06 GMT"<br><br>
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