reglab/housing_qa huggingface dataset:
CA Corp Code § 25117 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 2 - Issuer Transactions|Section 25117.

25117.  (a) An evidence of indebtedness, and the purchasers or holders thereof, shall be exempt from the usury provisions of Section 1 of Article XV of the California Constitution if (1) the evidence of indebtedness is rated or provisionally rated by Standard & Poor’s Corporation as AAA, AA, A, BBB, or investment grade commercial paper, or by Moody’s Investors Service, Inc. as Aaa, Aa, A, Baa, or investment grade commercial paper, including any such ratings with “+” or “—” designation or other variations that occur within these ratings, or has a rating or a provisional rating by another nationally recognized rating agency or system, which rating and agency or system have been certified by rule or order of the commissioner, or (2) the issuer thereof either (A) has any security listed or approved for listing upon notice of issuance on a national securities exchange, if the exchange has been certified by the commissioner, pursuant to subdivision (o) of Section 25100, or (B) meets each of the following requirements:(i) The issuer is a corporation which is subject to Section 13 of the Securities Exchange Act of 1934.(ii) The issuer had total shareholders’ equity of at least one million dollars ($1,000,000) at the end of its most recent fiscal year, and had consolidated net income, after all charges, including taxes and extraordinary losses, and excluding extraordinary gains, of at least five hundred thousand dollars ($500,000) for three of its last four fiscal years, including its most recent fiscal year. The determination of total shareholders’ equity and net income shall be determined in conformity with generally accepted accounting principles applicable to that fiscal year or years, on a consolidated basis, or (3) the evidence of indebtedness is issued by any corporation all of the outstanding shares of which are owned by an issuer which meets the requirements of subparagraph (A) or (B) of paragraph (2).(b) This section creates and authorizes a class of transactions and persons pursuant to Section 1 of Article XV of the California Constitution.(c) Any evidence of indebtedness issued in compliance with this section shall be entitled to the benefits of the usury exemption contained in this section regardless of whether subsequent to its issuance the evidence of indebtedness is determined by a court of competent jurisdiction to be a “security.”(Amended by Stats. 2009, Ch. 131, Sec. 11. (AB 991) Effective January 1, 2010.)
CA Corp Code § 25120 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 3 - Recapitalizations and Reorganizations|Section 25120.

25120.  (a) Except as provided in subdivision (b), it is unlawful for any person to offer or sell in this state any security in any of the following manners:(1) In an issuer transaction in connection with any change in the rights, preferences, privileges, or restrictions of or on outstanding securities.(2) In any exchange of securities by the issuer with its existing security holders exclusively.(3) In any exchange in connection with any merger or consolidation or purchase of assets in consideration wholly or in part of the issuance of securities.(4) In an entity conversion transaction.(b) Subdivision (a) shall not apply to a security if the security is qualified for sale under this chapter (and no order under Section 25140 or subdivision (a) of Section 25143 is in effect with respect to the qualification) or if the security or transaction is exempted or not subject to qualification under Chapter 1 (commencing with Section 25100) of this part.(Amended by Stats. 2002, Ch. 964, Sec. 2. Effective January 1, 2003.)
CA Corp Code § 25121 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 3 - Recapitalizations and Reorganizations|Section 25121.

25121.  The securities qualified for sale under this chapter shall be qualified by permit under this section. The application for the permit shall be signed and verified by the issuer and shall contain such information and be accompanied by such documents as shall be required by rule of the commissioner, in addition to the information specified in Section 25160 and the consent to service of process required by Section 25165. For this purpose, the commissioner may classify issuers and types of securities and transactions.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25122 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 3 - Recapitalizations and Reorganizations|Section 25122.

25122.  Qualification of securities under this chapter becomes effective upon the commissioner issuing a permit authorizing the issuance of such securities.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25130 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 4 - Nonissuer Transactions|Section 25130.

25130.  It is unlawful for any person to offer or sell any security in this state in any nonissuer transaction unless it is qualified for such sale under this chapter or under Section 25111 or 25113 of Chapter 2 (commencing with Section 25110) of this part (and no order under Section 25140 or subdivision (a) of Section 25143 is in effect with respect to such qualification) or unless such security or transaction is exempted or not subject to qualification under Chapter 1 (commencing with Section 25100) of this part.(Amended by Stats. 1997, Ch. 391, Sec. 12. Effective January 1, 1998.)
CA Corp Code § 25131 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 4 - Nonissuer Transactions|Section 25131.

25131.  (a) The securities to be offered or sold in a nonissuer transaction, which are not eligible for qualification under Section 25111, shall be qualified by notification under this section; provided however that securities offered in a nonissuer transaction pursuant to an exemption under Regulation A under the Securities Act of 1933 shall be qualified under Section 25113.(b) The application for qualification by notification under this section shall be signed and verified by the person on whose behalf the offering is being made or by the issuer or by any broker-dealer and shall contain such information and be accompanied by such documents as shall be required by rule of the commissioner, in addition to the information specified in Section 25160 and the consent to service of process required by Section 25165. For this purpose, the commissioner may classify issuers and types of securities.(c) If no stop order or order under subdivision (a) of Section 25143 is in effect under this law, a qualification under this section automatically becomes effective (and the securities may be offered and sold in accordance with the terms of the application as amended) at 12 o’clock noon California time on the 10th business day after the filing of the application or the last amendment thereto or at such earlier time as the commissioner determines.(d) Information may not be required under this section unless it is known to the person filing the application or to the persons on whose behalf the distribution is to be made, or can be furnished by them without unreasonable effort or expense.(Amended by Stats. 1974, Ch. 1103.)
CA Corp Code § 25132 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 4 - Nonissuer Transactions|Section 25132.

25132.  Every qualification under this chapter and every qualification of a nonissuer transaction under Section 25111 is effective for 12 months from its effective date, except during the time a stop order under Section 25140 or an order under subdivision (a) of Section 25143 is in effect. A qualification under this chapter may be withdrawn only in the discretion of the commissioner. The commissioner may by rule or order extend the effective period of any qualification under this chapter.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25133 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 4 - Nonissuer Transactions|Section 25133.

25133.  It is unlawful for any person without the written consent of the commissioner to consummate the sale or transfer of any securities heretofore or hereafter placed in escrow pursuant to a condition ordered by the commissioner and that have not been released from escrow, or that are subject to a currently effective legend condition requiring such consent (except as permitted therein), or concerning which the commissioner has issued a written notice to the holders thereof pursuant to Section 25534 ordering the certificates evidencing the securities to be stamped or printed with a legend as provided in the section.(Amended by Stats. 1996, Ch. 41, Sec. 5. Effective May 6, 1996.)
CA Corp Code § 25134 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 4 - Nonissuer Transactions|Section 25134.

25134.  Every applicant seeking qualification for the sale of securities shall, upon request of the commissioner, furnish to the commissioner an authorization for examination of the applicant’s financial records of the sale of such securities pursuant to Section 7473 of the Government Code.(Added by Stats. 1976, Ch. 1320.)
CA Corp Code § 25141 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25141.

25141.  The commissioner may impose as a condition of qualification under Chapter 2 (commencing with Section 25110) or Chapter 3 (commencing with Section 25120) of this part conditions requiring the deposit in escrow of securities, imposing a legend condition restricting the transferability thereof, impounding the proceeds from the sale thereof, limiting the expense in connection with the sale thereof, requiring the waiver of assets, dividends or voting rights by the holders of promotional securities, or any other condition if the commissioner finds that without such condition the offering will be unfair, unjust or inequitable. The commissioner may in his or her discretion modify or remove any such conditions when in his or her opinion they are no longer necessary or appropriate.(Amended by Stats. 1996, Ch. 41, Sec. 6. Effective May 6, 1996.)
CA Corp Code § 25142 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25142.

25142.  When application is made for a permit to issue securities or to deliver other consideration (whether or not the security or transaction is exempt from qualification or not required to be qualified) in exchange for one or more bona fide outstanding securities, claims, or property interests, or partly in such exchange and partly for cash, the commissioner is expressly authorized to approve the terms and conditions of such issuance and exchange or such delivery and exchange and the fairness of such terms and conditions, and is expressly authorized to hold a hearing upon the fairness of such terms and conditions, at which all persons to whom it is proposed to issue securities or to deliver such other consideration in such exchange have the right to appear. The application for a permit to deliver consideration other than securities shall be in such form, contain such information and be accompanied by such documents as shall be required by rule of the commissioner or, in the absence thereof, in substantially the form of an application filed pursuant to Section 25121.(Amended by Stats. 1977, Ch. 235.)
CA Corp Code § 25143 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25143.

25143.  (a) The commissioner may by order summarily postpone or suspend the effectiveness of any qualification pending final determination of any proceeding under this chapter. Upon the entry of the order, the commissioner shall promptly notify each person specified in subdivision (b) of this section that it has been entered and of the reasons therefor and that upon the receipt of a written request the matter will be set down for hearing to commence within 15 business days after such receipt unless the applicant consents to a later date. If no hearing is requested and none is ordered by the commissioner, the order will remain in effect until it is modified or vacated by the commissioner. If a hearing is requested or ordered, the commissioner, after notice and hearing in accordance with subdivision (b) of this section, may modify or vacate the order or extend it until final determination.(b) No stop order may be entered under this chapter except under subdivision (a) of this section without appropriate prior notice to the applicant, the issuer, and the person on whose behalf the securities are to be or have been offered and hearing in accordance with the provisions of the Administrative Procedure Act, Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code, in connection with which the commissioner shall have all of the powers granted thereunder. In the case of qualification by permit, such hearing shall be held upon such notice within 20 business days after a written request therefor by the applicant unless the permit is issued prior to the expiration of such period or the applicant consents to a later date.(Amended by Stats. 1973, Ch. 390.)
CA Corp Code § 25144 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25144.

25144.  The commissioner may vacate or modify a stop order if he finds that the conditions which caused its entry have changed or that it is otherwise in the public interest to do so.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25145 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25145.

25145.  Every issuer qualifying securities for sale in this state shall at all times keep and maintain a complete set of books, records, and accounts of such sales and the disposition of the proceeds thereof, and shall thereafter, at such times as are required by the commissioner, make and file in the office of the commissioner a report, setting forth the securities sold by it under such qualification, the proceeds derived therefrom and the disposition thereof.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25146 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25146.

25146.  For a period of 18 months after the qualification is effective, the commissioner may by rule or order require an issuer who has filed an application to file reports not more often than semiannually for the purpose of keeping reasonably current the information contained in the application; provided, that the commissioner may not require the filing of any such report after completion of the offering if a nonissuer transaction in the security would be entitled to exemption under Section 25101.(Amended by Stats. 1988, Ch. 598, Sec. 2.)
CA Corp Code § 25147 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25147.

25147.  The commissioner may by rule or order require as a condition of qualification that any security qualified under Section 25113 be sold only on a specified form of subscription or sale contract, and that a signed or conformed copy of each contract be preserved for any period up to three years specified in the rule or order.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25148 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25148.

25148.  Except in cases where the delivery of a prospectus or proxy statement is required under the Securities Act of 1933 or the Securities Exchange Act of 1934, the commissioner may by rule or order require as a condition of qualification under Section 25112, 25113, 25122 or 25131 that a prospectus or proxy statement containing any designated part of the information required in the application be given to each person to whom an offer is made before the sale of the security to be issued under the permit or order.(Amended by Stats. 1983, Ch. 442, Sec. 2.)
CA Corp Code § 25149 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25149.

25149.  The commissioner may act as escrow holder for securities required to be deposited in escrow by his order.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25150 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25150.

25150.  The commissioner may accept and act upon the opinions, appraisements and reports of any engineers, appraisers, or other experts which may be presented by an applicant on any question of fact concerning or affecting the securities proposed to be offered and sold. In lieu of, or in addition to, such opinions, appraisements, and reports, the commissioner may have any or all matters concerning or affecting such securities investigated, appraised, passed upon and certified to him by engineers, appraisers, or other experts selected by him.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25151 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 5 - Authority of the Commissioner|Section 25151.

25151.  (a) Upon the filing of a written request for the consent to transfer securities referred to in Section 25133, accompanied by such information and documents as the commissioner may by rule require, the commissioner shall issue such consent if the commissioner finds that the transfer requested will be fair, just, and equitable to the proposed transferees, and otherwise the commissioner shall deny such consent.(b) The issuance of the commissioner’s consent pursuant to this section shall not be a qualification of the transaction pursuant to, nor an exemption from the qualification requirements of, Section 25110, 25120, or 25130.(Amended by Stats. 1984, Ch. 577, Sec. 5.)
CA Corp Code § 25160 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 6 - General Provisions|Section 25160.

25160.  Every application for qualification shall state (1) the maximum amount of securities proposed to be offered in this state; and (2) any adverse order, judgment, or decree entered in connection with the offering by the regulatory authority in any state or by any court or by the Securities and Exchange Commission. Verification of an application shall be in the manner provided in the Code of Civil Procedure for the verification of pleadings. All information required to be included in an application shall be true and complete as of the time the qualification of the sale of securities becomes effective; and an applicant shall promptly supply by amendment prior to the effectiveness of such qualification any information based on facts occurring after the original date of filing which is necessary to supplement or correct the information contained in the original application so as to make such information not materially misleading as of the effective date of such qualification.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25161 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 6 - General Provisions|Section 25161.

25161.  Any document filed under this law or a predecessor statute may be incorporated by reference in a subsequent application or notice filing if it was filed within four years prior to the filing of the application or notice filing, or is otherwise available in the files of the commissioner, to the extent that the document is currently accurate.(Amended by Stats. 1997, Ch. 391, Sec. 13. Effective January 1, 1998.)
CA Corp Code § 25162 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 6 - General Provisions|Section 25162.

25162.  An amendment to an application filed after the effective date of the qualification of the sale of securities, if such amendment is approved by the commissioner, shall become effective on such date as the commissioner may determine, having due regard to the public interest and the protection of investors.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25163 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 2 - QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES|CHAPTER 6 - General Provisions|Section 25163.

25163.  In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.(Added by Stats. 1968, Ch. 88.)