Business Entity Regulations - Essay Example

Business Law: Business Entity Regulations BUSINESS LAW: BUSINESS ENTITY REGULATIONS REAL E Titus Rock Manickam Order No. 28667804 April 2009BUSINESS LAW: BUSINESS ENTITY REGULATIONSREAL ESTATEBusiness Entity RegulationsIt is necessary to obtain a real estate license in order to engage in the business of estate agency in the State of California. California law requires the Secretary of State to determine that a proposed business entity name for corporation, limited liability company and limited partnership entity is not the same or too similar to a reserved name of an existing business entity on record with the Secretary of State.

It is the duty of the district attorney of each country in California to prosecute all violations wherever they occur in the State of California.Failure to adhere to this requirement will result in the commissioner preferring a complaint for violation of this section before any court of competent jurisdiction. A real estate broker is a person who negotiates to sell, lease, rent or buy real property (Business and Professions Code Section 10130-10149).Identify the business formation codes in the state of CaliforniaThe business formation codes are 10130-10149.

These codes provide the rules and regulations that govern the acts of a real estate license holder in California. The real estate broker, for compensation or in expectation of a compensation, negotiates to do one or more of selling or offering to sell, buying or offering to buy, leases or rents or offers to lease or rent, assists in filing an application, solicits borrowers or lenders or negotiates loans or collects payments or performs services for borrowers or lenders in connection with loans secured directly or collaterally by liens on real property (Business and Professions Code Section 10130-10149).

Identify the address of California's corporation commissionThe address is: California Corporation Commission, 1500 11th Street, 3rd Floor, Sacramento, California, 95814, USA, Telephone No (916) 653-6244 (Business Entity Names).Describe the process for obtaining an "annual filing report" for a corporation currently registered in CaliforniaOne has to go to the site: https://businessfilings.sos.ca.gov/ and get the necessary details. There is a $20 fee for filing the required statement. In addition, all domestic stock and all foreign corporations must pay a $5 disclosure fee at the time of filing, totaling $25.

The payment can be made by credit card. There is space where the corporation's name may be entered. If the name is on the records of the corporation, the filing may be done online. Otherwise the filing has to be mailed or submitted in person at the public counter in Sacramento.The completed pages may be printed for the records of the corporation that is filing, prior to submission. The California Corporation Commission does not provide copies of the e-filed statements (Statement of Information - Corporations).

Sources:Business and Professions Code Section 10130-10149, http://www.leginfo.ca.gov/cgi-bin/displaycodesection=bpc&group=10001-11000&file=10130-10149Business Entity Names, http://www.sos.ca.gov/business/regs-business-entity-names.htmStatement of Information - Corporations, https://businessfilings.sos.ca.gov/