California Code
Corporations Code - CORP
TITLE 4 - SECURITIES

DIVISION 1 - CORPORATE SECURITIES LAW OF 968

PART 1 - DEFINITIONS

Section 25000. - 25000. This division may be known as the “Corporate Securities...

Section 25001. - 25001. Unless the context otherwise requires, the definitions in this...

Section 25002. - 25002. “Advertisement” means any written or printed communication or any...

Section 25003. - 25003. (a) “Agent” means any individual, other than a broker-dealer...

Section 25003.5. - 25003.5. “Business days” are all days other than every Saturday,...

Section 25004. - 25004. (a) “Broker-dealer” means any person engaged in the business...

Section 25005. - 25005. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 25005.1. - 25005.1. “Entity conversion transaction” means a conversion pursuant to Section...

Section 25006. - 25006. “Fraud,” “deceit,” and “defraud” are not limited to common...

Section 25007. - 25007. “Guaranteed” means guaranteed as to payment of principal, interest,...

Section 25008. - 25008. (a) An offer or sale of a security is...

Section 25009. - 25009. (a) “Investment adviser” means any person who, for compensation,...

Section 25009.1. - 25009.1. “Investment adviser” does not include persons excepted from the...

Section 25009.5. - 25009.5. (a) “Investment adviser representative” or “associated person of an...

Section 25010. - 25010. “Issuer” means any person who issues or proposes to...

Section 25011. - 25011. “Nonissuer transaction” means any transaction not directly or indirectly...

Section 25012. - 25012. “Owners’ association” means a nonprofit corporation or association created...

Section 25013. - 25013. “Person” means an individual, a corporation, a partnership, a...

Section 25014. - 25014. “Publish” means publicly to issue or circulate by newspaper,...

Section 25014.5. - 25014.5. “Rollup participant” means a finite-life limited partnership. (a) Except...

Section 25014.6. - 25014.6. “Rollup transaction” means any transaction or series of transactions...

Section 25014.7. - 25014.7. (a) “Eligible rollup transaction” means a rollup transaction in...

Section 25015. - 25015. “Real estate development” means a development (a) which consists...

Section 25016. - 25016. “Rule” means any published regulation or standard of general...

Section 25017. - 25017. (a) “Sale” or “sell” includes every contract of sale...

Section 25018. - 25018. “Securities Act of 1933,” “Securities Exchange Act of 1934,”...

Section 25019. - 25019. “Security” means any note; stock; treasury stock; membership in...

Section 25020. - 25020. “State” means any state, territory, or possession of the...

Section 25021. - 25021. “Subdivided lands” and “subdivision” have the meanings prescribed in...

Section 25022. - 25022. “Underwriter” means a person who has agreed with an...

Section 25023. - 25023. (a) Except as provided in subdivision (b), “viatical settlement...

PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES

CHAPTER 1 - Exemptions and Certain Securities and Transactions Not Subject to Qualification

Section 25100. - 25100. The following securities are exempted from Sections 25110, 25120,...

Section 25100.1. - 25100.1. The following securities are not subject to Sections 25110,...

Section 25101. - 25101. The following securities are exempt from the provisions of...

Section 25101.1. - 25101.1. The following securities are not subject to Sections 25110,...

Section 25102. - 25102. The following transactions are exempted from the provisions of...

Section 25102.1. - 25102.1. The following transactions are not subject to Sections 25110,...

Section 25102.2. - 25102.2. The commissioner shall require any issuer that is engaged...

Section 25102.5. - 25102.5. There shall be exempted from Section 25110 a transaction...

Section 25103. - 25103. The following transactions are exempted from the provisions of...

Section 25104. - 25104. The following transactions are exempted from the provisions of...

Section 25105. - 25105. There shall be exempted from the provisions of Section...

CHAPTER 2 - Issuer Transactions

Section 25110. - 25110. It is unlawful for any person to offer or...

Section 25111. - 25111. (a) Any security for which a registration statement has...

Section 25112. - 25112. (a) Any security issued by a person which is...

Section 25113. - 25113. (a) All securities, whether or not eligible for qualification...

Section 25114. - 25114. Every qualification under this chapter is effective for 12...

Section 25115. - 25115. Every application for qualification of an issuer transaction under...

Section 25116. - 25116. (a) An evidence of indebtedness issued pursuant to a...

Section 25117. - 25117. (a) An evidence of indebtedness, and the purchasers or...

Section 25118. - 25118. (a) An evidence of indebtedness issued by an entity...

CHAPTER 3 - Recapitalizations and Reorganizations

Section 25120. - 25120. (a) Except as provided in subdivision (b), it is...

Section 25121. - 25121. The securities qualified for sale under this chapter shall...

Section 25122. - 25122. Qualification of securities under this chapter becomes effective upon...

CHAPTER 4 - Nonissuer Transactions

Section 25130. - 25130. It is unlawful for any person to offer or...

Section 25131. - 25131. (a) The securities to be offered or sold in...

Section 25132. - 25132. Every qualification under this chapter and every qualification of...

Section 25133. - 25133. It is unlawful for any person without the written...

Section 25134. - 25134. Every applicant seeking qualification for the sale of securities...

CHAPTER 5 - Authority of the Commissioner

Section 25140. - 25140. (a) (1) The commissioner may issue a stop order...

Section 25141. - 25141. The commissioner may impose as a condition of qualification...

Section 25142. - 25142. When application is made for a permit to issue...

Section 25143. - 25143. (a) The commissioner may by order summarily postpone or...

Section 25144. - 25144. The commissioner may vacate or modify a stop order...

Section 25145. - 25145. Every issuer qualifying securities for sale in this state...

Section 25146. - 25146. For a period of 18 months after the qualification...

Section 25147. - 25147. The commissioner may by rule or order require as...

Section 25148. - 25148. Except in cases where the delivery of a prospectus...

Section 25149. - 25149. The commissioner may act as escrow holder for securities...

Section 25150. - 25150. The commissioner may accept and act upon the opinions,...

Section 25151. - 25151. (a) Upon the filing of a written request for...

CHAPTER 6 - General Provisions

Section 25160. - 25160. Every application for qualification shall state (1) the maximum...

Section 25161. - 25161. Any document filed under this law or a predecessor...

Section 25162. - 25162. An amendment to an application filed after the effective...

Section 25163. - 25163. In any proceeding under this law, the burden of...

Section 25164. - 25164. (a) Neither (1) the fact that an application for...

Section 25165. - 25165. Every applicant for qualification of the sale of securities...

Section 25166. - 25166. It is unlawful for any person willfully to make...

PART 3 - REGULATION AND NOTICE FILING REQUIREMENTS OF AGENTS, BROKER-DEALERS, INVESTMENT ADVISER REPRESENTATIVES, AND INVESTMENT ADVISERS

CHAPTER 1 - Exemptions

Section 25200. - 25200. A broker-dealer registered under the Securities Exchange Act of...

Section 25202. - 25202. (a) An investment adviser shall not be subject to...

Section 25203. - 25203. A person whose only clients are insurance companies shall...

Section 25204. - 25204. The commissioner may by such rules as he deems...

Section 25206. - 25206. A broker licensed by the Real Estate Commissioner is...

Section 25206.1. - 25206.1. (a) For purposes of this section, a “finder” is...

Section 25207. - 25207. A financial institution that undertakes activities with respect to...

Section 25208. - 25208. A person licensed as a capital access company under...

Section 25209. - 25209. Section 25210 shall not apply to an agent of...

CHAPTER 2 - Licensing of Agents and Broker-Dealers

Section 25210. - 25210. (a) Unless exempted under the provisions of Chapter 1...

Section 25211. - 25211. (a) The application for a certificate as a broker-dealer...

Section 25211.5. - 25211.5. A broker-dealer acting pursuant to a certificate which is...

Section 25212. - 25212. The commissioner may, after appropriate notice and opportunity for...

Section 25212.1. - 25212.1. The commissioner may immediately revoke by order the certificate...

Section 25213. - 25213. The commissioner may, after appropriate notice and opportunity for...

Section 25213.3. - 25213.3. The commissioner shall, after appropriate notices and opportunity for...

Section 25214. - 25214. (a) It is unlawful for any person, as to...

Section 25215. - 25215. No order may be entered under Section 25212, 25213,...

Section 25216. - 25216. (a) No broker-dealer or agent shall effect any transaction...

Section 25217. - 25217. (a) A broker-dealer licensed under this chapter shall not...

Section 25218. - 25218. No broker-dealer licensed under this chapter shall effect any...

Section 25219. - 25219. Notwithstanding any other provision of this division, if in...

Section 25220. - 25220. At any time after the issuance of an order...

Section 25221. - 25221. (a) Notwithstanding any other provision of law, a broker-dealer,...

CHAPTER 3 - Licensing and Notice Filing Requirements of Investment Adviser Representatives and Investment Advisers

Section 25230. - 25230. (a) It is unlawful for any investment adviser to...

Section 25230.1. - 25230.1. (a) A person that is registered under Section 203...

Section 25231. - 25231. (a) Any investment adviser, or any person who contemplates...

Section 25232. - 25232. The commissioner may, after appropriate notice and opportunity for...

Section 25232.1. - 25232.1. The commissioner may, after appropriate notice and opportunity for...

Section 25232.2. - 25232.2. (a) It is unlawful for any person, as to...

Section 25232.3. - 25232.3. The commissioner may immediately revoke the certificate of any...

Section 25233. - 25233. No order may be entered under Section 25232, 25232.1,...

Section 25234. - 25234. (a) No investment adviser licensed under this chapter shall...

Section 25235. - 25235. It is unlawful for any investment adviser, directly or...

Section 25236. - 25236. (a) No investment adviser licensed under this chapter shall...

Section 25237. - 25237. The commissioner shall prescribe rules with respect to investment...

Section 25238. - 25238. No investment adviser licensed under this chapter and no...

CHAPTER 4 - General Provisions

Section 25240. - 25240. Every applicant for a certificate as a broker-dealer or...

Section 25241. - 25241. (a) Every broker-dealer and every investment adviser licensed under...

Section 25242. - 25242. (a) Surrender of a certificate as a broker-dealer or...

Section 25243. - 25243. It is unlawful for any person holding a certificate...

Section 25243.5. - 25243.5. (a) A broker-dealer or investment adviser, or an agent...

Section 25244. - 25244. Any person whose certificate as a broker-dealer or investment...

Section 25245. - 25245. It is unlawful for any person willfully to make...

Section 25246. - 25246. It is unlawful for any agent or broker-dealer to...

Section 25247. - 25247. (a) Upon written or oral request, the commissioner shall...

Section 25248. - 25248. (a) If the commissioner finds, as a result of...

Section 25249. - 25249. If, after examination or investigation, the commissioner has reasonable...

Section 25250. - 25250. If, after examination or investigation, the commissioner has reasonable...

Section 25251. - 25251. (a) No order issued pursuant to Section 25249 or...

Section 25252. - 25252. The commissioner may, after appropriate notice and opportunity for...

Section 25253. - 25253. (a) Whenever it appears to the commissioner that any...

Section 25254. - 25254. (a) If the commissioner determines it is in the...

Section 25255. - 25255. The civil, criminal, and administrative remedies available to the...

Section 25256. - 25256. (a) For any broker-dealer or investment adviser, a disciplinary...

PART 4 - ADVERTISING SECURITIES

Section 25300. - 25300. (a) No person shall publish any advertisement in this...

Section 25301. - 25301. All advertisements published by any broker-dealer that are exempted...

Section 25302. - 25302. (a) A person shall not publish any advertisement concerning...

PART 5 - FRAUDULENT AND PROHIBITED PRACTICES

Section 25400. - 25400. It is unlawful for any person, directly or indirectly,...

Section 25401. - 25401. It is unlawful for any person to offer or...

Section 25402. - 25402. It is unlawful for an issuer or any person...

Section 25403. - 25403. (a) Every person who with knowledge directly or indirectly...

Section 25404. - 25404. (a) It is unlawful for any person to knowingly...

PART 6 - ENFORCEMENT

CHAPTER 1 - Civil Liability

Section 25500. - 25500. Any person who willfully participates in any act or...

Section 25501. - 25501. Any person who violates Section 25401 shall be liable...

Section 25501.5. - 25501.5. (a) (1) A person who purchases a security from...

Section 25502. - 25502. Any person who violates Section 25402 shall be liable...

Section 25502.5. - 25502.5. (a) Any person other than the issuer who violates...

Section 25503. - 25503. Any person who violates Section 25110, 25130, or 25133,...

Section 25504. - 25504. Every person who directly or indirectly controls a person...

Section 25504.1. - 25504.1. Any person who materially assists in any violation of...

Section 25504.2. - 25504.2. (a) Any accountant, engineer, appraiser, or other person whose...

Section 25505. - 25505. A corporation which is liable under this chapter shall...

Section 25506. - 25506. (a) For proceedings commencing before January 1, 2005, no...

Section 25506.1. - 25506.1. No action shall be maintained to enforce any liability...

Section 25507. - 25507. (a) No action shall be maintained to enforce any...

Section 25508. - 25508. No action shall be maintained to enforce any right...

Section 25508.5. - 25508.5. In addition to any other rights provided for under...

Section 25509. - 25509. Every cause of action under this chapter survives the...

Section 25510. - 25510. Except as explicitly provided in this chapter, no civil...

CHAPTER 2 - Powers of the Commissioner

Section 25530. - 25530. (a) Whenever it appears to the commissioner that any...

Section 25530.1. - 25530.1. In any proceeding under Section 25530, the court may...

Section 25531. - 25531. (a) The commissioner in his discretion (1) may make...

Section 25532. - 25532. (a) If, in the opinion of the commissioner, (1)...

Section 25533. - 25533. The commissioner may refer any evidence available concerning any...

Section 25533.5. - 25533.5. The commissioner shall send a copy of a desist...

Section 25534. - 25534. Whenever any securities are issued which the commissioner determines...

Section 25535. - 25535. (a) Any person who violates any provision of this...

Section 25536. - 25536. (a) The commissioner may take such actions as are...

CHAPTER 3 - Crimes

Section 25540. - 25540. (a) Except as provided for in subdivision (b), any...

Section 25541. - 25541. (a) Any person who willfully employs, directly or indirectly,...

Section 25542. - 25542. Nothing in this law limits the power of the...

CHAPTER 4 - Service of Process

Section 25550. - 25550. When any person, including any nonresident of this state,...

PART 7 - ADMINISTRATION

Section 25604. - 25604. The administration and enforcement of, and the education of...

Section 25605. - 25605. (a) The commissioner may publish any information filed with...

Section 25606. - 25606. (a) The Attorney General shall render to the commissioner...

Section 25607. - 25607. (a) Neither the commissioner nor any of the commissioner’s...

Section 25608. - 25608. (a) The commissioner shall charge and collect the fees...

Section 25608.1. - 25608.1. (a) The fee for an investment company filing a...

Section 25608.2. - 25608.2. Commencing July 1, 2000, the fee provisions of subdivision...

Section 25608.3. - 25608.3. (a) Notwithstanding Sections 25608 and 25608.1, the commissioner may...

Section 25609. - 25609. Every final order, decision, license, or other official act...

Section 25610. - 25610. The commissioner may from time to time make, amend...

Section 25611. - 25611. The commissioner may prepare and make available to interested...

Section 25612. - 25612. No rule, form or order may be made, amended,...

Section 25612.3. - 25612.3. Unless otherwise provided by rule, the commissioner shall require...

Section 25612.5. - 25612.5. (a) To encourage uniform interpretation and administration of this...

Section 25613. - 25613. The commissioner may by rule or order prescribe (1)...

Section 25614. - 25614. All rules of the commissioner (other than those relating...

Section 25615. - 25615. A document is filed when it is received by...

Section 25616. - 25616. The commissioner shall keep an index of all qualifications...

Section 25617. - 25617. Upon request and at such reasonable charges as he...

Section 25618. - 25618. The commissioner in his discretion may honor requests from...

Section 25619. - 25619. (a) The commissioner may destroy any applications, notices, orders,...

Section 25620. - 25620. (a) Notwithstanding any other law, the commissioner may by...

PART 8 - GENERAL PROVISIONS

Section 25700. - 25700. No provision of this law imposing any liability applies...

Section 25701. - 25701. Any condition, stipulation or provision purporting to bind any...

Section 25702. - 25702. Whenever a person is entitled under this law to...

Section 25703. - 25703. If any provision of this law or the application...

Section 25704. - 25704. (a) Except as expressly provided in this section, prior...

Section 25705. - 25705. All references to “the Corporate Securities Law” in any...

Section 25706. - 25706. (a) All effective permits, orders, and consents under the...

Section 25707. - 25707. (a) All permits and orders issued under Article 6...

DIVISION 2 - SECURITY OWNERS PROTECTION

CHAPTER 1 - Definitions and General Provisions

Section 27000. - 27000. Unless the provision or the context otherwise indicates, and...

Section 27001. - 27001. As used in this division “security” includes all of...

Section 27002. - 27002. (a) As used in this division, “individual” includes every...

Section 27003. - 27003. If any provision of this division, or the application...

CHAPTER 2 - Unlawful and Fraudulent Conduct

Section 27100. - 27100. Any individual who, within this state, solicits, receives, collects,...

Section 27101. - 27101. It is unlawful for any individual, directly or indirectly,...

CHAPTER 3 - Civil Liability and Crimes

Section 27200. - 27200. Every individual who solicits, receives, collects, or contracts for...

Section 27201. - 27201. No action shall be maintained to enforce any liability...

Section 27202. - 27202. Every individual who willfully violates Section 27101 is guilty...

DIVISION 3 - CAPITAL ACCESS COMPANIES

CHAPTER 1 - General Provisions

ARTICLE 1 - Short Title and Construction

Section 28000. - 28000. This division shall be known and may be cited...

Section 28001. - 28001. This division shall be liberally construed to accomplish its...

Section 28002. - 28002. The provisions of the Corporate Securities Law of 1968...

Section 28003. - 28003. The Legislature finds all of the following: (a) It...

Section 28004. - 28004. (a) The purpose of this division is to provide...

ARTICLE 2 - Definitions

Section 28030. - 28030. Subject to additional definitions contained in this division which...

Section 28031. - 28031. “Accredited investor” means a person who is defined in...

Section 28032. - 28032. “Affiliate” means any person or persons controlling, controlled by,...

Section 28033. - 28033. “Commissioner” means the Commissioner of Financial Protection and Innovation...

Section 28034. - 28034. “Company” means a corporation, limited partnership, limited liability company,...

Section 28035. - 28035. “Control” means the possession, direct or indirect, of the...

Section 28036. - 28036. “Controlling person,” when used with respect to a specified...

Section 28037. - 28037. “Insolvent,” when used with respect to any person, means...

Section 28038. - 28038. “License” means a license issued under this division authorizing...

Section 28039. - 28039. “Licensee” means a company that is licensed under this...

Section 28040. - 28040. “Officer” means either of the following: (a) When used...

Section 28041. - 28041. “Order” means any approval, consent, authorization, exemption, denial, prohibition,...

Section 28042. - 28042. “Parent,” when used with respect to a specified person...

Section 28043. - 28043. “Person” means any natural person, proprietorship, joint venture, partnership,...

Section 28044. - 28044. “Principal security holder,” means any person who owns, directly...

Section 28045. - 28045. “To provide financing assistance to a person” means to...

Section 28046. - 28046. “Security” has the meaning set forth in Section 25019....

Section 28047. - 28047. “Small business firm” means a person that proposes to...

Section 28047.1. - 28047.1. “Smaller business firm” means a person that proposes to...

Section 28048. - 28048. “Subsidiary,” when used with respect to a specified person...

Section 28049. - 28049. “Voting power” has the meaning set forth in Section...

CHAPTER 2 - Administration

Section 28100. - 28100. The commissioner shall administer and enforce the provisions of...

Section 28101. - 28101. Whenever the commissioner issues an order or license under...

Section 28102. - 28102. Any application filed with the commissioner under this division...

Section 28103. - 28103. In determining whether to approve any application filed under...

Section 28104. - 28104. (a) The commissioner may do both of the following:...

Section 28105. - 28105. The commissioner may provide information relating to a licensee...

Section 28106. - 28106. If the commissioner permits any licensee, any affiliate of...

Section 28107. - 28107. The commissioner may refer any evidence available concerning any...

Section 28108. - 28108. Before any applicant for a license is issued a...

Section 28109. - 28109. Whenever any person, including any nonresident of this state,...

Section 28110. - 28110. (a) Fees shall be paid to, and collected by,...

Section 28111. - 28111. (a) If a licensee becomes licensed as a small...

CHAPTER 3 - Licensing

Section 28150. - 28150. (a) Except as provided in subdivision (b), no person...

Section 28151. - 28151. No person other than a person who meets the...

Section 28152. - 28152. If the commissioner finds all of the following with...

Section 28153. - 28153. (a) For purposes of Section 28152, the commissioner may...

Section 28154. - 28154. Except pursuant to Section 28551, no license shall be...

Section 28155. - 28155. No licensee shall represent that it is sponsored, recommended,...

CHAPTER 4 - Organizational Matters

ARTICLE 1 - Organization and Name

Section 28200. - 28200. The organizational documents of the licensee shall include the...

Section 28201. - 28201. No licensee shall, except by prior written notice to...

ARTICLE 2 - Directors

Section 28210. - 28210. Each licensee shall have a board of directors, executive...

Section 28211. - 28211. The board of directors, executive committee, or other policy...

Section 28212. - 28212. The board of directors, executive committee, or other policy...

CHAPTER 5 - Offices

ARTICLE 1 - Establishing, Relocating, and Closing Offices

Section 28320. - 28320. (a) No licensee shall relocate its head office without...

CHAPTER 6 - Transaction of Business

Section 28400. - 28400. No licensee shall engage in any business other than...

Section 28404. - 28404. No licensee shall provide financing assistance to any small...

Section 28405. - 28405. This section creates and authorizes an exempt class of...

CHAPTER 7 - Records, Reports, and Examinations

Section 28500. - 28500. Each licensee shall make and keep books, accounts, and...

Section 28501. - 28501. Each licensee shall, not more than 90 days after...

Section 28502. - 28502. Each licensee, director, officer, and employee of a licensee,...

Section 28503. - 28503. (a) The commissioner shall examine each licensee not less...

Section 28504. - 28504. (a) A licensee may, after the approval of the...

Section 28505. - 28505. Subject to the provisions of Rules 250.10 and 250.10.5...

CHAPTER 8 - Acquisition of Control

Section 28550. - 28550. No person shall, except with the prior written approval...

Section 28551. - 28551. The commissioner shall approve an application for approval to...

Section 28552. - 28552. (a) For purposes of Section 28551, the commissioner may...

CHAPTER 9 - Merger and Purchase or Sale of Business

Section 28600. - 28600. For purposes of this chapter: (a) “Acquiring licensee” means...

Section 28601. - 28601. No licensee shall merge with any other company unless...

Section 28602. - 28602. No licensee shall purchase all or substantially all of...

Section 28603. - 28603. No licensee shall sell all or substantially all of...

Section 28604. - 28604. The commissioner shall approve an application for approval of...

CHAPTER 10 - Voluntary Surrender of License

Section 28650. - 28650. Any licensee may offer to surrender its license by...

Section 28651. - 28651. (a) Except as otherwise provided in subdivision (b), a...

CHAPTER 11 - Enforcement

Section 28700. - 28700. For purposes of this chapter, unless the context otherwise...

Section 28701. - 28701. Whenever it appears to the commissioner that any person...

Section 28702. - 28702. (a) If the commissioner finds that any person has...

Section 28703. - 28703. The commissioner may issue a cease and desist order,...

Section 28704. - 28704. (a) The commissioner may issue a cease and desist...

Section 28705. - 28705. The commissioner may issue an order removing a subject...

Section 28706. - 28706. The commissioner may issue an order removing a subject...

Section 28707. - 28707. (a) The commissioner may issue an order suspending a...

Section 28708. - 28708. (a) The commissioner may issue an order suspending a...

Section 28709. - 28709. Any person to whom an order is issued under...

Section 28710. - 28710. The commissioner may issue an order suspending or revoking...

Section 28711. - 28711. (a) If the commissioner finds that any of the...

Section 28712. - 28712. Any person whose license is suspended or revoked shall...

Section 28713. - 28713. Any person to whom an order is issued under...

Section 28714. - 28714. (a) If the commissioner finds that any of the...

Section 28715. - 28715. Sections 11041, 11042, and 11043 of the Government Code...

Section 28716. - 28716. (a) It is unlawful for any person to knowingly...

CHAPTER 12 - Crimes and Criminal Penalties

ARTICLE 1 - General Provisions

Section 28800. - 28800. It shall be unlawful for any person willfully to...

Section 28801. - 28801. It shall be unlawful for any person having custody...

Section 28802. - 28802. It shall be unlawful for any person, with intent...

ARTICLE 2 - Conflicts of Interest

Section 28820. - 28820. In this article, unless the context otherwise requires: (a)...

Section 28821. - 28821. (a) A licensee shall not provide financial or managerial...

ARTICLE 3 - Criminal Penalties

Section 28880. - 28880. Any person who willfully violates any provision under this...

Section 28881. - 28881. Nothing in this division limits the power of the...

CHAPTER 13 - Civil Penalties

Section 28900. - 28900. If, after notice and a hearing, the commissioner finds...

Section 28901. - 28901. The provisions of Section 28900 are additional to, and...

CHAPTER 14 - Miscellaneous Provisions

Section 28950. - 28950. No provision of this division imposing any liability applies...

Section 28951. - 28951. (a) The commissioner may from time to time make,...

Section 28952. - 28952. The commissioner may honor requests from interested persons for...

Section 28953. - 28953. In any proceeding under this law, the burden of...

Section 28954. - 28954. Every final order, decision, license, or other official act...

Section 28955. - 28955. Nothing in this law, shall impair, derogate, or otherwise...

Section 28956. - 28956. If any provision of this division , or the...

Section 28957. - 28957. Neither the commissioner nor any employee of the commissioner...

Section 28958. - 28958. (a) The program established by this division shall be...

DIVISION 4 - BUCKET SHOP LAW

CHAPTER 1 - Definitions

Section 29000. - 29000. Unless the provision or the context otherwise requires, the...

Section 29001. - 29001. “Person” means an individual, partnership, corporation, limited liability company,...

Section 29002. - 29002. (a) “Trustee” means a person executing a trust, as...

Section 29003. - 29003. “Contract” includes any agreement, trade, or transaction. (Added by...

Section 29004. - 29004. “Securities” means all shares in any corporation or association...

Section 29005. - 29005. “Commodities” means anything movable that is bought and sold....

Section 29006. - 29006. “Bucket shop” means any room, office, store, building, or...

Section 29007. - 29007. “Keeper” means any person owning, keeping, managing, operating, or...

Section 29008. - 29008. “Bucketing” or “bucket shopping” means any of the following:...

CHAPTER 2 - Prohibited Activities

Section 29100. - 29100. Any person who makes or offers to make any...

Section 29101. - 29101. Any person who communicates, receives, exhibits, or displays in...

Section 29102. - 29102. The felonies specified in this chapter are punishable, for...

Section 29103. - 29103. The prosecution, conviction, and punishment of a corporation under...

Section 29104. - 29104. All contracts for the purchase or sale of shares...

Section 29105. - 29105. (a) It is unlawful for any person to knowingly...

CHAPTER 3 - Required Records and Statements

Section 29200. - 29200. Every person doing business as a broker or making...

Section 29201. - 29201. Every person shall, upon written demand therefor, furnish to...

DIVISION 4.5 - COMMODITIES

CHAPTER 1 - Definitions

Section 29500. - 29500. This division shall be known and may be cited...

Section 29501. - 29501. “Board of trade” means any person or group of...

Section 29502. - 29502. “Business days” are all days other than every Saturday,...

Section 29503. - 29503. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 29504. - 29504. “Commodity” means, except as otherwise specified by the commissioner...

Section 29505. - 29505. (a) “Commodity contract” means any account, agreement, or contract...

Section 29506. - 29506. “Commodity Exchange Act” means the federal statute so named,...

Section 29507. - 29507. “Commodity Futures Trading Commission” means the independent regulatory agency...

Section 29508. - 29508. “CFTC Rule” means any rule, regulation, or order of...

Section 29509. - 29509. “Commodity merchant” means any of the following, as defined...

Section 29510. - 29510. “Commodity option” means any account, agreement, or contract giving...

Section 29511. - 29511. “Financial institution” means (a) a national bank or a...

Section 29512. - 29512. “Good funds” means the verified receipt of immediately available...

Section 29513. - 29513. “Offer” includes every offer to sell, offer to purchase,...

Section 29514. - 29514. “Person” means an individual, a corporation, a partnership, a...

Section 29515. - 29515. “Precious metal” means the following in either coin, bullion,...

Section 29515.5. - 29515.5. “Purchase price” means all funds paid by or on...

Section 29516. - 29516. “Sale” or “sell” includes every sale, contract of sale,...

CHAPTER 2 - Unlawful Commodity Transactions

Section 29520. - 29520. Except as otherwise provided in Section 29530, 29531, or...

CHAPTER 3 - Exemptions

Section 29530. - 29530. (a) The prohibitions in Section 29520 shall not apply...

Section 29531. - 29531. The prohibitions in Section 29520 shall not apply to...

Section 29532. - 29532. The commissioner may by rule or order prescribe the...

CHAPTER 4 - Unlawful Activities and Fraudulent Conduct

Section 29535. - 29535. (a) No person shall engage in a trade or...

Section 29536. - 29536. It is unlawful for any person, directly or indirectly,...

Section 29537. - 29537. (a) Sections 29520, 29535, and 29536 apply to persons...

Section 29538. - 29538. (a) It is unlawful for any person to knowingly...

CHAPTER 5 - Powers of the Commissioner

Section 29540. - 29540. (a) Whenever it appears to the commissioner that any...

Section 29541. - 29541. (a) The commissioner in his or her discretion (1)...

Section 29542. - 29542. (a) If, in the opinion of the commissioner, any...

Section 29543. - 29543. The commissioner may refer the evidence that is available...

Section 29544. - 29544. (a) Any person who willfully violates any provision of...

Section 29545. - 29545. (a) The commissioner may take actions that are authorized...

Section 29546. - 29546. The commissioner in his or her discretion may honor...

CHAPTER 6 - Crimes and Civil Liability

Section 29550. - 29550. (a) Except as provided in subdivision (b), any person...

Section 29551. - 29551. Nothing in this law limits the power of the...

Section 29552. - 29552. Any person who materially assists in any violation of...

Section 29553. - 29553. No action shall be maintained to enforce any liability...

Section 29554. - 29554. Every cause of action under this law survives the...

Section 29555. - 29555. Except as explicitly provided in this law, no civil...

CHAPTER 7 - Miscellaneous Provisions

Section 29560. - 29560. No provision of this law imposing any liability applies...

Section 29561. - 29561. The commissioner may from time to time make, amend,...

Section 29562. - 29562. In any proceeding under this law, the burden of...

Section 29563. - 29563. Every final order, decision, certificate, registration, or other official...

Section 29564. - 29564. Nothing in this law, shall impair, derogate, or otherwise...

Section 29565. - 29565. If any provision of this law or the application...

Section 29566. - 29566. Neither the commissioner nor any employee of the commissioner...

Section 29567. - 29567. (a) The program established by this division shall be...

DIVISION 5 - FRANCHISE INVESTMENT LAW

PART 1 - DEFINITIONS

Section 31000. - 31000. This division may be known as the “Franchise Investment...

Section 31001. - 31001. The Legislature hereby finds and declares that the widespread...

Section 31001.1. - 31001.1. (a) To enhance the uniform and efficient administration, and...

Section 31002. - 31002. Unless the context otherwise requires, the definitions in this...

Section 31003. - 31003. “Advertisement” means any written or printed communication or any...

Section 31003.5. - 31003.5. “Business days” are all days other than every Saturday,...

Section 31004. - 31004. “Commissioner” means the Commissioner of Financial Protection and Innovation....

Section 31005. - 31005. (a) “Franchise” means a contract or agreement, either expressed...

Section 31005.5. - 31005.5. For the purposes of this division and in respect...

Section 31006. - 31006. A “franchisee” is a person to whom a franchise...

Section 31007. - 31007. A “franchisor” is a person who grants a franchise....

Section 31008. - 31008. “Area franchise” means any franchise between a franchisor and...

Section 31008.5. - 31008.5. “Subfranchise” means any contract or agreement between a franchisor...

Section 31009. - 31009. A “subfranchisor” is a person to whom a subfranchise...

Section 31010. - 31010. Where used in this law, unless specifically stated otherwise,...

Section 31011. - 31011. “Franchise fee” means any fee or charge that a...

Section 31012. - 31012. “Fraud” and “deceit” are not limited to common law...

Section 31013. - 31013. (a) An offer or sale of a franchise is...

Section 31014. - 31014. “Order” means a consent, authorization, approval, prohibition or requirement...

Section 31015. - 31015. “Person” means an individual, a corporation, a partnership, a...

Section 31016. - 31016. “Publish” means publicly to issue or circulate by newspaper,...

Section 31017. - 31017. “Rule” means any published regulation or standard of general...

Section 31018. - 31018. (a) “Sale” or “sell” includes every contract or agreement...

Section 31019. - 31019. “State” means any state, territory, or possession of the...

PART 2 - REGULATION OF THE SALE OF FRANCHISES

CHAPTER 1 - Exemptions

Section 31100. - 31100. There shall be exempted from any or all of...

Section 31101. - 31101. There shall be exempted from the provisions of Chapter...

Section 31102. - 31102. The offer or sale of a franchise by a...

Section 31103. - 31103. This division shall not be applicable to any transaction...

Section 31104. - 31104. There shall be exempted from the provisions of Chapter...

Section 31105. - 31105. Any offer, sale, or other transfer of a franchise,...

Section 31106. - 31106. There shall be exempted from the provisions of Chapter...

Section 31107. - 31107. There shall be exempted from the provisions of Chapter...

Section 31108. - 31108. There shall be exempted from the provisions of Chapter...

Section 31109. - 31109. Any offer or sale of a franchise that meets...

Section 31109.1. - 31109.1. (a) There shall be exempted from the provisions of...

CHAPTER 2 - Disclosure

Section 31110. - 31110. On and after April 15, 1971, it shall be...

Section 31111. - 31111. (a) The application for registration of an offer shall...

Section 31112. - 31112. Any application or amendment under this law shall be...

Section 31113. - 31113. If the commissioner finds that it is necessary and...

Section 31114. - 31114. The application for registration shall be accompanied by a...

Section 31115. - 31115. The commissioner may summarily issue a stop order denying...

Section 31116. - 31116. (a) Except as provided in subdivision (b), if no...

Section 31117. - 31117. Upon the entry of a stop order under Section...

Section 31118. - 31118. The commissioner may vacate or modify a stop order...

Section 31119. - 31119. (a) It is unlawful to sell any franchise in...

Section 31120. - 31120. A franchise offering shall be deemed duly registered for...

Section 31121. - 31121. (a) The registration may be renewed for additional periods...

Section 31122. - 31122. The registration renewal statement shall be in the form...

Section 31123. - 31123. A franchisor shall promptly notify the commissioner in writing,...

Section 31124. - 31124. An amendment to an application filed after the effective...

Section 31125. - 31125. (a) An application for registration of a material modification...

Section 31126. - 31126. (a) A prospective franchisee seeking to buy an existing...

CHAPTER 3 - General Provisions

Section 31150. - 31150. Every franchisor or subfranchisor offering franchises for sale in...

Section 31151. - 31151. The commissioner may accept and act upon the opinions,...

«
1
2
»