reglab/housing_qa huggingface dataset:
CA Corp Code § 25501 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25501.

25501.  Any person who violates Section 25401 shall be liable to the person who purchases a security from, or sells a security to, that person, who may sue either for rescission or for damages (if the plaintiff or the defendant, as the case may be, no longer owns the security), unless the defendant proves that the plaintiff knew the facts concerning the untruth or omission or that the defendant exercised reasonable care and did not know (or if the defendant had exercised reasonable care, would not have known) of the untruth or omission. Upon rescission, a purchaser may recover the consideration paid for the security, plus interest at the legal rate, less the amount of any income received on the security, upon tender of the security. Upon rescission, a seller may recover the security, upon tender of the consideration paid for the security plus interest at the legal rate, less the amount of any income received by the defendant on the security. Damages recoverable under this section by a purchaser shall be an amount equal to the difference between (a) the price at which the security was bought plus interest at the legal rate from the date of purchase and (b) the value of the security at the time it was disposed of by the plaintiff plus the amount of any income received on the security by the plaintiff. Damages recoverable under this section by a seller shall be an amount equal to the difference between (1) the value of the security at the time of the filing of the complaint plus the amount of any income received by the defendant on the security and (2) the price at which the security was sold plus interest at the legal rate from the date of sale. Any tender specified in this section may be made at any time before entry of judgment. In addition to the relief described above, the court shall award reasonable attorney’s fees and costs to a prevailing purchaser or seller who succeeds in establishing a right to the relief provided by this section.(Amended by Stats. 2021, Ch. 617, Sec. 2. (AB 511) Effective January 1, 2022.)
CA Corp Code § 25501.5 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25501.5.

25501.5.  (a) (1) A person who purchases a security from or sells a security to a broker-dealer that is required to be licensed and has not, at the time of the sale or purchase, applied for and secured from the commissioner a certificate under Part 3 (commencing with Section 25200), that is in effect at the time of the sale or purchase authorizing that broker-dealer to act in that capacity, may bring an action for rescission of the sale or purchase or, if the plaintiff or the defendant no longer owns the security, for damages.(2) Upon rescission and tender of the security, a purchaser may recover the consideration paid for the security plus interest at the legal rate, less the amount of any income received on the security.(3) Upon rescission and tender of the consideration paid for the security plus interest at the legal rate, a seller may recover the security plus the amount of any income received by the defendant on the security.(4) Damages recoverable under this section by a purchaser shall be an amount equal to the difference between the following:(A) The price at which the security was bought plus interest at the legal rate from the date of purchase.(B) The value of the security at the time it was disposed of by the plaintiff plus the amount of any income received on the security by the plaintiff.(5) Damages recoverable under this section by a seller shall be an amount equal to the difference between the following:(A) The value of the security at the time of the filing of the complaint plus the amount of any income received by the defendant on the security.(B) The price at which the security was sold plus interest at the legal rate from the date of sale.(6) A tender of a security or of consideration paid for a security plus interest pursuant to this section may be made at any time before entry of judgment.(b) The court, in its discretion, may award reasonable attorney’s fees and costs to a prevailing plaintiff under this section.(Added by Stats. 2004, Ch. 575, Sec. 2. Effective January 1, 2005.)
CA Corp Code § 25502 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25502.

25502.  Any person who violates Section 25402 shall be liable to the person who purchases a security from him or sells a security to him, for damages equal to the difference between the price at which such security was purchased or sold and the market value which such security would have had at the time of the purchase or sale if the information known to the defendant had been publicly disseminated prior to that time and a reasonable time had elapsed for the market to absorb the information, plus interest at the legal rate, unless the defendant proves that the plaintiff knew the information or that the plaintiff would have purchased or sold at the same price even if the information had been revealed to him.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25502.5 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25502.5.

25502.5.  (a) Any person other than the issuer who violates Section 25402 shall be liable to the issuer of the security purchased or sold in violation of Section 25402 for damages in an amount up to three times the difference between the price at which the security was purchased or sold and the market value which the security would have had at the time of the purchase or sale if the information known to the defendant had been publicly disseminated prior to that time and a reasonable time had elapsed for the market to absorb the information and shall be liable to the issuer of the security or to a person who institutes an action under this section in the right of the issuer of the security for reasonable costs and attorney’s fees.(b) The amounts recoverable under this section by the issuer shall be reduced by any amount paid by the defendant in a proceeding brought by the Securities and Exchange Commission with respect to the same transaction or transactions under the federal Insider Trading Sanctions Act of 1984 (15 U.S.C. Secs. 78a, 78c, 78o, 78t, 78u, and 78ff) or any other act regardless of whether the amount was paid pursuant to a judgment or settlement or paid before or after the filing of an action by the plaintiff against the defendant. If a proceeding has been commenced by the Securities and Exchange Commission but has not been finally resolved, the court shall delay entering a judgment for the plaintiff under this section until that proceeding is resolved.(c) If any shareholder of an issuer alleges to the board that there has been a violation of this section, the board shall be required to consider the allegation in good faith, and if the allegation involves misconduct by any director, that director shall not be entitled to vote on any matter involving the allegation. However, that director may be counted in determining the presence of a quorum at a meeting of the board or a committee of the board.(d) This section shall only apply to issuers who have total assets in excess of one million dollars ($1,000,000) and have a class of equity security held of record by 500 or more persons.(Added by Stats. 1988, Ch. 1339, Sec. 4.)
CA Corp Code § 25504 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25504.

25504.  Every person who directly or indirectly controls a person liable under Section 25501 or 25503, every partner in a firm so liable, every principal executive officer or director of a corporation so liable, every person occupying a similar status or performing similar functions, every employee of a person so liable who materially aids in the act or transaction constituting the violation, and every broker-dealer or agent who materially aids in the act or transaction constituting the violation, are also liable jointly and severally with and to the same extent as such person, unless the other person who is so liable had no knowledge of or reasonable grounds to believe in the existence of the facts by reason of which the liability is alleged to exist.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25504.1 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25504.1.

25504.1.  Any person who materially assists in any violation of Section 25110, 25120, 25130, 25133, or 25401, or a condition of qualification under Chapter 2 (commencing with Section 25110) of Part 2 of this division imposed pursuant to Section 25141, or a condition of qualification under Chapter 3 (commencing with Section 25120) of Part 2 of this division imposed pursuant to Section 25141, or an order suspending trading issued pursuant to Section 25219, with intent to deceive or defraud, is jointly and severally liable with any other person liable under this chapter for such violation.(Amended by Stats. 1977, Ch. 762.)
CA Corp Code § 25504.2 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25504.2.

25504.2.  (a) Any accountant, engineer, appraiser, or other person whose profession gives authority to a statement made by such person, who pursuant to rule of the commissioner has given written consent to be and has been named in any prospectus or offering circular distributed in connection with the offer or sale of securities as having prepared or certified in such capacity either any part of such document or any written report or valuation which is distributed with or referred to in any such document is jointly and severally liable with any other person liable under Section 25501 if:(1) The part of such document so prepared or certified or the report or valuation so distributed or referred to includes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; and(2) The person asserting such liability acquired a security described in such document in reliance on such untrue statement or in reliance on such part of the document or on such report or valuation without notice of such omission.(b) Notwithstanding the provisions of subdivision (a), no such accountant, engineer, appraiser, or other person shall be liable as provided therein if such person sustains the burden of proof that:(1) Such person had, after reasonable investigation, reasonable ground to believe and did believe, at the time such person consented to such use of such person’s name, that the statements so included in such part of such document or in such report or valuation were true and that there was no omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or(2) Such part of such document did not fairly represent such person’s statement as an expert or was not a fair copy of or extract from such person’s report or valuation as an expert; or(3) Prior to the acquisition of the security by the person asserting the liability, such accountant, engineer, appraiser, or other person advised the issuer and the commissioner in writing that such person would not be responsible for such part of the document or the report or valuation.(c) A person who participates in the preparation of a document described in subdivision (a) of this section shall be deemed to have prepared or certified only those portions thereof which are expressly stated with such person’s written consent to have been made on such person’s authority.(Amended by Stats. 1978, Ch. 663.)
CA Corp Code § 25505 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25505.

25505.  A corporation which is liable under this chapter shall have a right of indemnification against any of its principal executive officers, directors, and controlling persons whose willful violation of any provision of this law gave rise to such liability. All persons liable under this chapter shall have a right of contribution against all other persons similarly liable, based upon each person’s proportionate share of the total liability, except that no person whose willful violation of any provision of this law has given rise to any liability shall have any right of contribution against any other person guilty merely of a negligent violation, and except that no principal executive officer, director, or controlling person whose willful violation has given rise to any liability shall have any right of contribution against the corporation to which he sustains that relationship.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25506 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25506.

25506.  (a) For proceedings commencing before January 1, 2005, no action shall be maintained to enforce any liability created under Section 25500, 25501, or 25502 (or Section 25504 or Section 25504.1 insofar as they related to those sections) unless brought before the expiration of four years after the act or transaction constituting the violation or the expiration of one year after the discovery by the plaintiff of the facts constituting the violation, whichever shall first expire.(b) For proceedings commencing on or after January 1, 2005, no action shall be maintained to enforce any liability created under Section 25500, 25501, or 25502 (or Section 25504 or Section 25504.1 insofar as they related to those sections) unless brought before the expiration of five years after the act or transaction constituting the violation or the expiration of two years after the discovery by the plaintiff of the facts constituting the violation, whichever shall first expire.(Amended by Stats. 2004, Ch. 575, Sec. 3. Effective January 1, 2005.)
CA Corp Code § 25506.1 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25506.1.

25506.1.  No action shall be maintained to enforce any liability created under Section 25504.2 unless brought within one year after the discovery of the facts constituting the violation, or after such discovery should have been made by the exercise of reasonable diligence. In no event shall any such action be brought more than three years after the act or transaction constituting the violation.(Added by Stats. 1977, Ch. 762.)
CA Corp Code § 25508 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25508.

25508.  No action shall be maintained to enforce any right of indemnification or contribution created by Section 25505 unless brought before the expiration of one year after final judgment based upon the liability for which the right of indemnification or contribution exists.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25508.5 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25508.5.

25508.5.  In addition to any other rights provided for under this division, including, but not limited to, Sections 25501 and 25506, or otherwise, a person who purchases a viatical or life settlement contract or a fractionalized or pooled interest therein may rescind or cancel the purchase for any reason. The person may rescind or cancel the purchase at any time before seven calendar days after the date the person remits the required consideration to the issuer or the issuer’s agent by giving written notice of rescission or cancellation to the issuer or the issuer’s agent. No specific form is required for the rescission or cancellation. The notice is effective when personally delivered, deposited in the United States mail, or deposited with a commercial courier or delivery service. The issuer shall refund all the person’s money within seven calendar days after receiving the notice of rescission or cancellation.(Added by Stats. 2000, Ch. 705, Sec. 6. Effective January 1, 2001.)
CA Corp Code § 25509 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25509.

25509.  Every cause of action under this chapter survives the death of any person who might have been a plaintiff or defendant.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25510 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 1 - Civil Liability|Section 25510.

25510.  Except as explicitly provided in this chapter, no civil liability in favor of any private party shall arise against any person by implication from or as a result of the violation of any provision of this law or any rule or order hereunder. Nothing in this chapter shall limit any liability which may exist by virture of any other statute or under common law if this law were not in effect.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25530 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 2 - Powers of the Commissioner|Section 25530.

25530.  (a) Whenever it appears to the commissioner that any person has engaged, is engaging, or is about to engage in any act or practice constituting a violation of any provision of this division or any rule or order hereunder, the commissioner may in the commissioner’s discretion bring an action in the name of the people of the State of California in the superior court to enjoin the acts or practices or to enforce compliance with this law or any rule or order hereunder. Upon a proper showing, a permanent or preliminary injunction, restraining order, or writ of mandate shall be granted and a receiver, monitor, conservator, or other designated fiduciary or officer of the court may be appointed for the defendant or the defendant’s assets, or any other ancillary relief may be granted as appropriate.A receiver, monitor, conservator, or other designated fiduciary or officer of the court appointed by the superior court pursuant to this section may, with the approval of the court, exercise any or all of the powers of the defendant’s officers, directors, partners, trustees or persons who exercise similar powers and perform similar duties, including the filing of a petition for bankruptcy. No action at law or in equity may be maintained by any party against the commissioner, or a receiver, monitor, conservator, or other designated fiduciary or officer of the court, by reason of their exercising these powers or performing these duties pursuant to the order of, or with the approval of, the superior court.(b) If the commissioner determines it is in the public interest, the commissioner may include in any action authorized by subdivision (a) a claim for ancillary relief, including but not limited to, a claim for restitution or disgorgement or damages on behalf of the persons injured by the act or practice constituting the subject matter of the action, and the court shall have jurisdiction to award additional relief.(c) In any case in which a defendant is ordered by the court to pay restitution to a victim, the court may in its order require the payment as a money judgment, which shall be enforceable by a victim as if the restitution order were a separate civil judgment, and enforceable in the same manner as is provided for the enforcement of any other money judgment. Any order issued under this subdivision shall contain provisions that are designed to achieve a fair and orderly satisfaction of the judgment.(Amended by Stats. 2013, Ch. 335, Sec. 7. (SB 538) Effective January 1, 2014.)
CA Corp Code § 25530.1 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 6 - ENFORCEMENT|CHAPTER 2 - Powers of the Commissioner|Section 25530.1.

25530.1.  In any proceeding under Section 25530, the court may prohibit, conditionally or unconditionally, and permanently or for such period of time as it shall determine, any person who violated Section 25401 from acting as an officer or director of any issuer that has securities qualified pursuant to Section 25110, or that has securities or a transaction exempt from qualification pursuant to Section 25100, 25102, or 25103, if the person’s conduct demonstrates unfitness to serve as an officer or director of the issuer.(Added by Stats. 2007, Ch. 101, Sec. 6. Effective January 1, 2008.)