reglab/housing_qa huggingface dataset:
CA Corp Code § 25008 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25008.

25008.  (a) An offer or sale of a security is made in this state when an offer to sell is made in this state, or an offer to buy is accepted in this state, or (if both the seller and the purchaser are domiciled in this state) the security is delivered to the purchaser in this state. An offer to buy or a purchase of a security is made in this state when an offer to buy is made in this state, or an offer to sell is accepted in this state, or (if both the seller and the purchaser are domiciled in this state) the security is delivered to the purchaser in this state.(b) An offer to sell or to buy is made in this state when the offer either originates from this state or is directed by the offeror to this state and received at the place to which it is directed. An offer to buy or to sell is accepted in this state when acceptance is communicated to the offeror in this state; and acceptance is communicated to the offeror in this state when the offeree directs it to the offeror in this state reasonably believing the offeror to be in this state and it is received at the place to which it is directed. A security is delivered to the purchaser in this state when the certificate or other evidence of the security is directed to the purchaser in this state and received at the place to which it is directed.(c) An offer to sell or to buy is not made in this state merely because (1) the publisher circulates or there is circulated on his behalf in this state any bona fide newspaper or other publication of general, regular and paid circulation which has had more than two-thirds of its circulation outside this state during the past 12 months, or (2) a radio or television program originating outside this state is received in this state.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25009 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25009.

25009.  (a) “Investment adviser” means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities, or who, for compensation and as a part of a regular business, publishes analyses or reports concerning securities. “Investment adviser” does not include (1) a bank, trust company or savings and loan association; (2) an attorney at law, accountant, engineer or teacher whose performance of these services is solely incidental to the practice of his or her profession; (3) an associated person of an investment adviser; (4) a broker-dealer or agent of a broker-dealer whose performance of these services is solely incidental to the conduct of the business of a broker-dealer and who receives no special compensation for them; or (5) a publisher of any bona fide newspaper, news magazine or business or financial publication of general, regular and paid circulation and the agents and servants thereof, but this paragraph (5) does not exclude any such person who engages in any other activity which would constitute that person an investment adviser within the meaning of this section.(b) “Investment adviser” also includes any person who uses the title “financial planner” and who, for compensation, engages in the business, whether principally or as part of another business, of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities, or who, for compensation and as part of a regular business, publishes analyses or reports concerning securities. This subdivision does not apply to: (1) a bank, trust company, or savings and loan association; (2) an attorney at law, accountant, engineer, or teacher whose performance of these services is solely incidental to the practice of his or her profession, so long as these individuals do not use the title “financial planner;” (3) an associated person of an investment adviser where the investment adviser is licensed or exempt from licensure under this law; (4) an agent of a broker-dealer where the broker-dealer is licensed or exempt from licensure under this law, so long as (A) the performance of these services by the agent is solely incidental to the conduct of the business of the broker-dealer, and (B) the agent receives no special compensation for the performance of these services; or (5) a publisher set forth in paragraph (5) of subdivision (a), so long as the publisher or the agents and servants of the publisher are not engaged in any other activity which would constitute that person an investment adviser within the meaning of this section.(Amended by Stats. 1996, Ch. 631, Sec. 1. Effective January 1, 1997.)
CA Corp Code § 25009.1 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25009.1.

25009.1.  “Investment adviser” does not include persons excepted from the definition of “investment adviser” by Section 202(a)(11) of the Investment Advisers Act of 1940 (15 U.S.C. 80a-1 et seq., as amended), except that with regard to those persons the commissioner may investigate and bring enforcement actions with respect to fraud and deceit, including and without limitation fraud and deceit under Section 25235, and any rules of the commissioner adopted thereunder.(Added by Stats. 1998, Ch. 48, Sec. 1. Effective January 1, 1999.)
CA Corp Code § 25009.5 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25009.5.

25009.5.  (a) “Investment adviser representative” or “associated person of an investment adviser” means any partner, officer, director of (or a person occupying a similar status or performing similar functions) or other individual, except clerical or ministerial personnel, who is employed by or associated with, or subject to the supervision and control of, an investment adviser that has obtained a certificate or that is required to obtain a certificate under this law, and who does any of the following:(1) Makes any recommendations or otherwise renders advice regarding securities.(2) Manages accounts or portfolios of clients.(3) Determines which recommendation or advice regarding securities should be given.(4) Solicits, offers, or negotiates for the sale or sells investment advisory services.(5) Supervises employees who perform any of the foregoing.(b) “Investment adviser representative” means, with respect to an investment adviser subject to Section 25230.1, a person defined as an investment adviser representative by Rule 203A-3 of the Securities and Exchange Commission (17 C.F.R. 275.203A-3) and who has a place of business in this state.(Added by Stats. 1997, Ch. 391, Sec. 2. Effective January 1, 1998.)
CA Corp Code § 25010 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25010.

25010.  “Issuer” means any person who issues or proposes to issue any security, except that:(a) With respect to certificates of deposit, voting trust certificates or collateral-trust certificates, or with respect to certificates of interest or shares in an unincorporated investment trust not having a board of directors or persons performing similar functions or of the fixed, restricted management or unit type, “issuer” means the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which the security is issued. However, with respect to equipment-trust certificates or like securities, “issuer” means the person by whom the equipment or property is or is to be used.(b) With respect to certificates of interest or participation in oil, gas or mining titles or leases or in payments out of production under those titles or leases, “issuer” means the person or persons in active control of the exploration or development of the property who sell those interests or participations or payments or any person or persons who subdivide and sell those interests or participations or payments. The determination of the person or persons in active control of the exploration or development of the property shall be made on the basis of the actual relationship of the parties and not on the basis of the legal designation of a person’s interest.(c) With respect to a fractional or pooled interest in a viatical or life settlement contract, “issuer” means the person who creates, for the purposes of sale, the fractional or pooled interest. In the case of a viatical or life settlement contract that is not fractionalized or pooled, “issuer” means the person effecting the transactions with the investors in those contracts.(d) In the case of an unincorporated association which provides by its articles for limited liability of any or all of its members, or in the case of a trust, committee, or other legal entity, the trustees or members thereof shall not be individually liable as issuers of any security issued by the association, trust, committee, or other legal entity.(Amended by Stats. 2000, Ch. 705, Sec. 1. Effective January 1, 2001.)
CA Corp Code § 25011 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25011.

25011.  “Nonissuer transaction” means any transaction not directly or indirectly for the benefit of the issuer. A transaction is indirectly for the benefit of the issuer if any portion of the purchase price of any securities involved in the transaction will be received indirectly by the issuer. An offering which involves both an issuer transaction and a nonissuer transaction shall be treated for the purposes of Chapters 2 (commencing with Section 25110) and 4 (commencing with Section 25130) of Part 2 of this division as an issuer transaction, but for the purposes of Chapter 1 (commencing with Section 25100) of Part 2 of this division they shall be treated as separate transactions.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25012 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25012.

25012.  “Owners’ association” means a nonprofit corporation or association created to own or lease the commonly owned lots, parcels or areas referred to in clause (a) of Section 25015, or to provide management, maintenance, preservation or control of either such lots, parcels or areas or of the separately owned lots, parcels or areas, or both, or any portion of or interest in them, or interest subject to subdivision (g) of Section 11004.5 of the Business and Professions Code, if the shares or certificates of membership therein are transferable only by transfer of the interests in the lots, parcels or areas. Such shares of stock or memberships shall be considered interests in a real estate development or in subdivided lands or a subdivision.(Amended by Stats. 1986, Ch. 698, Sec. 2.)
CA Corp Code § 25013 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25013.

25013.  “Person” means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated organization, a government, or a political subdivision of a government.(Amended by Stats. 1994, Ch. 1200, Sec. 28. Effective September 30, 1994.)
CA Corp Code § 25014 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25014.

25014.  “Publish” means publicly to issue or circulate by newspaper, mail, radio or television, or otherwise to disseminate to the public.(Repealed and added by Stats. 1968, Ch. 88.)
CA Corp Code § 25014.5 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25014.5.

25014.5.  “Rollup participant” means a finite-life limited partnership.(a) Except as provided in subdivision (b) of Section 25014.6, a limited partnership has “finite-life” if both of the following apply:(1) It operates as a conduit vehicle for investors to participate in the ownership of assets for a limited period of time.(2) It has a policy or purpose of distributing to investors substantially all proceeds from the sale, financing, or refinancing of assets, whether for the term of the partnership or after an initial period of time following commencement of operations, rather than reinvesting those proceeds in the business.(b) Rollup participant does not include any partnership registered under the Investment Company Act of 1940 or any business development company as defined in Section 80a-2(48) of Title 15 of the United States Code.(Added by Stats. 1992, Ch. 1183, Sec. 2. Effective January 1, 1993.)
CA Corp Code § 25014.6 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25014.6.

25014.6.  “Rollup transaction” means any transaction or series of transactions that directly or indirectly through acquisition or otherwise involves the combination or reorganization of one or more rollup participants and is one of the following:(a) The offer or sale of securities by a successor entity, whether newly formed or previously existing, to one or more investors of the rollup participants to be combined or reorganized.(b) The acquisition of the successor entity’s securities by the rollup participants being combined or reorganized; provided however, that a rollup transaction shall not include any transaction that:(1) The Securities and Exchange Commission exempts from the definition of a rollup transaction pursuant to subparagraph (c) (ii) of Item 901 of Regulation S-K adopted by the Securities and Exchange Commission.(2) Is determined to be exempt from this definition by the Commissioner of Business Oversight upon the commissioner’s determination that this action is in the public interest and consistent with the protection of investors.(3) Involves one or more limited partnerships all of the securities of which are, prior to the transaction, securities for which transactions are reported under a transaction reporting plan declared effective before January 1, 1991, by the Securities and Exchange Commission under Section 11A of the Securities Exchange Act of 1934, as amended.(4) Involves only those issuers not required to register or report under Section 12 of the Securities Exchange Act of 1934, as amended, if the resulting issuer is also not required to register or report under Section 12.(5) Involves the reorganization to corporate, trust, or association form or restructuring of a single limited partnership if, as a consequence of the proposed transaction there will be no significant, adverse change in any of the following: voting rights, the term of existence of the entity, management compensation, or investment objectives.(6) Involves the reorganization to corporate, trust, or association form or restructuring of a single limited partnership if each investor is provided an option to retain a security under substantially the same terms and conditions as the original issue.(7) Involves the reorganization to corporate, trust, or association form or restructuring of a single limited partnership if transactions in the security issued as a result of the reorganization or restructuring are not reported under a transaction reporting plan declared effective before January 1, 1991, by the Securities and Exchange Commission under Section 11A of the Securities Exchange Act of 1934, as amended.(Amended by Stats. 2019, Ch. 143, Sec. 42. (SB 251) Effective January 1, 2020.)
CA Corp Code § 25015 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25015.

25015.  “Real estate development” means a development (a) which consists or will consist of separately owned lots, parcels or areas with either or both of the following features: (1) one or more additional continguous or noncontiguous lots, parcels, or areas owned in common by the owners of the separately owned lots, parcels, or areas, or (2) mutual, common, or reciprocal interests in or restrictions upon all or portions of such separately owned lots, parcels, or areas; and (b) in which the several owners of the separately owned lots, parcels, or areas have rights, directly or indirectly, to the beneficial use and enjoyment of the lots, parcels, or areas owned in common, or any one or more of them or portions thereof or interests therein, or of the interests or restrictions referred to in clause (a) above, or both. The estate in a separately or commonly owned lot, parcel, or area may be an estate of inheritance or perpetual estate, an estate for life, or an estate for years. The common ownership of the lots, parcels, or areas or the enjoyment of the interests or restrictions referred to in clause (a) above or both may be through ownership of shares of stock or memberships in an owners’ association or otherwise.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25016 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25016.

25016.  “Rule” means any published regulation or standard of general application issued by the commissioner. “Order” means a consent, authorization, approval, permit, or requirement applicable to a specific case issued by the commissioner.(Added by Stats. 1968, Ch. 88.)
CA Corp Code § 25017 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25017.

25017.  (a) “Sale” or “sell” includes every contract of sale of, contract to sell, or disposition of, a security or interest in a security for value. “Sale” or “sell” includes any exchange of securities and any change in the rights, preferences, privileges, or restrictions of or on outstanding securities.(b) “Offer” or “offer to sell” includes every attempt or offer to dispose of, or solicitation of an offer to buy, a security or interest in a security for value.(c) Any security given or delivered with, or as a bonus on account of, any purchase of securities or any other thing constitutes a part of the subject of the purchase and is considered to have been offered and sold for value.(d) A purported gift of assessable stock involves an offer and sale.(e) Every sale or offer of a warrant or right to purchase or subscribe to another security of the same or another issuer, as well as every sale or offer of a security which gives the holder a present or future right or privilege to convert the security into another security of the same or another issuer, includes an offer and sale of the other security only at the time of the offer or sale of the warrant or right or convertible security; but neither the exercise of the right to purchase or subscribe or to convert nor the issuance of securities pursuant thereto is an offer or sale.(f) The terms defined in this section do not include: (1) any bona fide secured transaction in or loan of outstanding securities; (2) any stock dividend payable with respect to common stock of a corporation solely (except for any cash or scrip paid for fractional shares) in shares of such common stock, if the corporation has no other class of voting stock outstanding; provided, that shares issued in any such dividend shall be subject to any conditions previously imposed by the commissioner applicable to the shares with respect to which they are issued; or (3) any act incident to a transaction or reorganization approved by a state or federal court in which securities are issued and exchanged for one or more outstanding securities, claims, or property interests, or partly in that exchange and partly for cash, and nothing in this division shall be construed to prohibit a court from applying the protections described in Section 25014.7 or 25140 and the regulations adopted thereunder when approving any transaction involving a rollup participant.(Amended by Stats. 1998, Ch. 48, Sec. 2. Effective January 1, 1999.)
CA Corp Code § 25018 (2021)
2021 California Code|Corporations Code - CORP|TITLE 4 - SECURITIES|DIVISION 1 - CORPORATE SECURITIES LAW OF 968|PART 1 - DEFINITIONS|Section 25018.

25018.  “Securities Act of 1933,” “Securities Exchange Act of 1934,” “Investment Advisers Act of 1940,” and “Investment Company Act of 1940” mean the federal statutes of those names as amended before or after the effective date of this law.(Amended by Stats. 2015, Ch. 190, Sec. 13. (AB 1517) Effective January 1, 2016.)