REGULARS

IMPORTANT NOTICE: This article is provided solely for research and archival purposes. MCLE self-study credit is no longer available. Even if you follow the instructions and submit payment you will not be granted MCLE self-study credit. Please note that low-cost MCLE is provided by the California Lawyers Association, pursuant to Business and Professions Code section 6056.

MCLE SELF-STUDY

2. The California Uniform Partnership Act (Cal. Corp. C. §15001 through 15058, inclusive) is not applicable to LLPs.

3. LLPs having principal offices located outside of California and which conduct intrastate business must register with the State Bar.

4. A registered LLP partner responsible for overseeing an associate who commits negligence is jointly and severally liable for damages up to the amount of his or her automatic guarantee, offset by available malpractice coverage and certain cash deposits, if any.

5. An LLP must register with the California secretary of state before filing with the State Bar.

6. The Limited Liability Partnership Rules and Regulations (LLP Rules) have been approved by the California Supreme Court.

7. Non-tortfeasors have limited liability for negligence attributable to a domestic LLP so long as registered with the California secretary of state.

8. A foreign partner in an LLP must submit a certificate of good standing issued by the jurisdiction in which her or she is licensed when renewing registration with the State Bar.

9. LLPs may expedite registration with the California secretary of state by filing via e-mail.

10. Only an authorized partner (determined by majority vote of LLP partners) may execute an amended Form LLP-1.

11. An amended Form LLP-1 may be filed to change the effective date of registration with the California secretary of state.

12. An amended registration should be filed with the California secretary of state 60 days after the information included with the initial registration changes.

13. The office of certification is the department within the State Bar responsible for regulating the LLP program.

14. The State Bar registration fee for a five-person LLP is the maximum fee of $2,500.

15. An LLP may not register with the State Bar unless it certifies under penalty of perjury that it is in compliance with Rule 1-400 of the Rules of Professional Conduct.

16. The automatic guarantee requirements of Cal. Corp. C. §16956

(a)(2)(C) apply to all LLP partners unless the law firm has a confirmed net worth of at least $15 million.

17. Involuntary termination of registered LLP status is absolute where timely renewal is not filed with the State Bar.

18. A foreign LLP conducting intrastate business must evidence to the State Bar its compliance with security requirements of LLP Rules §5.0 et seq.

19. Renewal registrations must be filed with the State Bar on or before an LLP’s fiscal year end if occurring before Oct. 1.

20. Any changes in the name, address or designated partner (authorized to act on behalf) of the LLP must be filed with the State Bar within 45 days after any information set forth in the original or amended application has occurred.

CERTIFICATION

This activity has been approved for Minimum Continuing Legal Education credit by the State Bar of California in the amount of 1 hour.

The State Bar of California certifies that this activity conforms to the standards for approved education activities prescribed by the rules and regulations of the State Bar of California governing minimum continuing legal education.