reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 11 - General Provisions Relating to Agents, Broker-Dealers and Investment Advisers › Section 260.241.5 - Notice of Complaint

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Each licensed broker-dealer and each licensed investment
					 adviser who has filed a complaint against any of its partners, officers or,
					 directors or, agents employed in California or associated persons (in the case
					 of an investment adviser) with any law enforcement agency, any other regulatory
					 agency having jurisdiction over the securities industry, or with any bonding
					 company regarding any loss arising from alleged acts of such person, shall send
					 a copy of such complaint to the Commissioner, within 10 days following its
					 filing with such other agency or bonding company.
1. Editorial
					 correction adding NOTE filed 4-6-83 (Register 83, No. 15).
2.
					 Amendment filed 1-7-88; operative 2-6-88 (Register 88, No.
					 4).
Note: Authority cited: Sections
						25241
						and
						25610,
						Corporations Code. Reference: Section
						25241,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 11 - General Provisions Relating to Agents, Broker-Dealers and Investment Advisers › Section 260.241.6 - Quarterly Security Counts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Every licensed broker-dealer, except such
				  broker-dealers operating subject to all limitations provided in paragraph
				  (a)(2) of Rule 15c3-1 under the Securities Exchange Act of 1934 (17 CFR
				  240.15c3-1) shall, at least
				  once in each calendar quarter-year:
(1)
				  physically examine and count all securities held;
(2) account for all securities in transfer,
				  in transit, pledged, loaned, borrowed, deposited, failed to receive and failed
				  to deliver or otherwise subject to such person's control or direction but not
				  in his physical possession by examination and comparison of the supporting
				  detail records with the appropriate ledger control accounts;
(3) verify all securities in transfer, in
				  transit, pledged, loaned, borrowed, deposited, failed to receive and failed to
				  deliver or otherwise subject to such person's control or direction but not in
				  such person's physical possession, where such securities have been in said
				  status for longer than thirty days;
(4) compare the results of the count and
				  verification with such person's records; and
(5) record on the books and records of the
				  broker-dealer all unresolved differences setting forth the security involved
				  and the date of comparison in a security count difference account no later than
				  seven business days after the date of each such security examination, count,
				  and verification in accordance with the requirements provided in (b) hereof;
				  provided, however, that such procedures need not be carried out by the
				  broker-dealer for the calendar quarter-year during which the date of such
				  person's annual report of financial condition pursuant to Section
				  260.241.2(a) of
				  these rules falls; and further provided, that no examination, count,
				  verification and comparison for the purpose of this rule shall be within two
				  months of or more than four months following a prior examination, count,
				  verification and comparison made hereunder.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 11 - General Provisions Relating to Agents, Broker-Dealers and Investment Advisers › Section 260.242 - Surrender of Certificate as a Broker-Dealer or Investment Adviser

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) An application
				  to surrender a certificate as a broker-dealer shall be filed on Form BDW. Each
				  licensed broker-dealer that is a member of the Financial Industry Regulatory
				  Authority shall file Form BDW through the Central Registration Depository in
				  accordance with its procedures for transmission to the Commissioner. All other
				  broker-dealers shall file Form BDW directly with the Commissioner.
(b) An application to surrender a certificate
				  as an investment adviser shall be filed on Form ADV-W in accordance with the
				  instructions in Form ADV-W. Form ADV-W shall be filed with the Investment
				  Adviser Registration Depository (IARD) in accordance with its procedures for
				  transmission to the Commissioner.
1. Amendment
					 of form filed 5-14-69; effective thirtieth day thereafter (Register 69, No.
					 20).
2. Amendment filed 3-1-74; effective thirtieth day thereafter
					 (Register 74, No. 9).
3. Amendment of Items 12, 15 and 16 filed
					 11-14-78; effective thirtieth day thereafter (Register 78, No.
					 45).
4. Amendment of Item 12 filed 11-29-79 as an emergency;
					 designated effective 1-1-80. Certificate of Compliance included (Register 79,
					 No. 48).
5. Editorial correction of Item 9 (Register 80, No.
					 4).
6. Repealer and new section filed 1-3-89; operative 2-1-89
					 (Register 89, No. 2).
7. Change without regulatory effect amending
					 certification filed 9-25-2002 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2002, No. 39).
8. Repealer and new section and
					 amendment of NOTE filed 3-4-2003; operative 4-3-2003 (Register 2003, No.
					 10).
9. Amendment of section and NOTE filed 3-6-2007; operative
					 4-5-2007 (Register 2007, No. 10).
10. Amendment of subsection (a)
					 filed 11-10-2009; operative 12-10-2009 (Register 2009, No.
					 46).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Sections
						25231,
						25242,
						25612.3
						and
						25612.5,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 12 - Advertising Securities › Section 260.300 - Filing and Use of Advertisements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The Department will not issue letters of nondisapproval of
					 advertising filed under Section
					 25300 of the Code. However, if the
					 person desiring to use the advertisement requests an order shortening the
					 three-day waiting period before use of the advertisement becomes permissible
					 under that Section, such order will be issued when an appropriate showing of
					 the need therefor is made by the filer. Any permit issued by the Commissioner
					 shall automatically constitute an order shortening the three-day waiting period
					 with respect to any advertisement on file at the time of the issuance of the
					 permit, relating to the offer and sale of the securities covered by the permit,
					 so as to permit the use of such advertisement at any time
					 thereafter.
1. Editorial
					 correction adding NOTE filed 11-8-82 (Register 82, No. 46).
2.
					 Editorial correction of NOTE filed 11-8-82 (Register 82, No.
					 46).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Section
						25300,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 12 - Advertising Securities › Section 260.300.1 - Exemption for Advertisement of Sales by Secured Party or Fiduciary

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25300(a) of the
					 Code as not being comprehended within the purposes of said Section, any
					 advertisement for any security in a nonissuer transaction if the offer of such
					 security is exempted by Subdivision (e) or Subdivision (f) of Section
					 25104.
1. New
					 section filed 5-14-69; effective thirtieth day thereafter (Register 69, No.
					 20).
2. Editorial correction of NOTE filed 11-8-82 (Register 82, No.
					 46).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Section
						25300,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 12 - Advertising Securities › Section 260.300.2 - Qualified Investment Companies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An investment company with a currently effective
					 qualification under Section
					 25111(c) of the
					 Code is permitted to comply with Section
					 25300(a) of the
					 Code by filing an advertisement subject to the provisions of that section
					 within 10 calendar days after its initial publication in this state; an
					 investment company qualified under Section
					 25111(d) of the
					 Code is exempted from Section
					 25300(a) of the
					 Code.
1. New
					 section filed 4-23-86; effective upon filing pursuant to Government Code
					 Section
					 11346.2(d)
					 (Register 86, No. 17).
Note: Authority cited: Sections
						25610
						and
						25300,
						Corporations Code. Reference: Section
						25300,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 12 - Advertising Securities › Section 260.302 - Standards Relating to Advertisements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any advertisement of securities (other than a tombstone
					 advertisement) should disclose, fairly and accurately, such relevant facts
					 concerning the nature of the securities, their terms and conditions, and the
					 nature and financial condition of the business enterprise as are necessary to
					 make the advertisement not misleading. Normally, any advertisement should
					 comply with the following standards:
(a) An advertisement should not contain any
				  statement or inference that an investment in the security is safe, or that
				  continuation of earnings or dividends is assured, or that failure, loss, or
				  default is impossible or unlikely.
(b) An advertisement (other than a tombstone
				  advertisement) should disclose all relevant details relating to promotional
				  shares, options, warrants and rights issued or proposed to be issued by the
				  company.
(c) Any statement in an
				  advertisement (other than a tombstone advertisement) relating to the financial
				  condition of the issuer should comply with the following:
(1) Any statement relating to the current or
				  past financial condition of an issuer should be clear, intelligible and
				  reasonably complete.
(2) A
				  statement purporting to show the current financial condition of an issuer
				  should be prepared as of a date reasonably close to the time at which the
				  advertisement is used and should disclose the date on which it was prepared and
				  the date to which the issuer's financial condition is reflected
				  therein.
(3) A statement purporting
				  to show the past financial condition of an issuer should be accompanied by a
				  current financial statement prepared in accordance with Clause (2) of this
				  Subsection.
(4) A statement
				  purporting to show the average earnings of an issuer for a period of more than
				  one year should be accompanied by a statement of the earnings for each of the
				  individual years within the period covered if there are any significant
				  variations within such period.
(5)
				  No "Pro Forma" financial statements should be used in an advertisement except
				  in connection with recapitalizations or reorganizations.
(6) No statement of estimated future earnings
				  should be made unless (i) it is based on a past earnings record, (ii) it
				  projects future earnings for a reasonable period only, and (iii) it is
				  substantiated by data which clearly supports such estimate.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 12 - Advertising Securities › Section 260.402 - Purchases and Sales

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Section
					 25402 of the Code, an issuer or
					 person described in Section
					 25402 shall not be deemed to have
					 purchased or sold an issuer's security at a time when that person knows
					 material information about the issuer if the issuer or such person demonstrates
					 that the purchase or sale of the issuer's security was in accordance will Rule
					 10b5-1(c) promulgated under the Securities Exchange Act of 1934, as amended,
					 17 CFR Section
					 240.10b5-1(c).
1. New
					 section filed 3-14-2001 as an emergency; operative 3-14-2001 (Register 2001,
					 No. 11). A Certificate of Compliance must be transmitted to OAL by 7-12-2001 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. Certificate of Compliance as to 3-14-2001 order transmitted
					 to OAL 6-26-2001 and filed 7-30-2001 (Register 2001, No.
					 31).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Section
						25402,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 1 - Expert's Liability › Section 260.504.2 - Authority

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The provisions of this subarticle are adopted pursuant to
						the Commissioner's authority under Sections
						25140,
						25300 and
						25610 of the Code and to
						implement, interpret and make specific Section
						25504.2 of the
						Code.
1.
						Redesignation of Sections
						260.507-260.617, not consecutive,
						from Article 13 to Subarticle 2 of Article 13 filed 1-10-79; effective
						thirtieth day thereafter (Register 79, No. 2).
2. New Subarticle 1
						(Sections 260.504.2 -
						260.504.2.4) filed 1-10-79;
						effective thirtieth day thereafter (Register 79, No.
						2).
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Sections
						  25140,
						  25300
						  and
						  25504.2,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 1 - Expert's Liability › Section 260.504.2.1 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For the purposes of Section
						25504.2 of the Code and this
						subarticle, the following definitions apply:
(a) "Expert" means any accountant, engineer,
					 appraiser or other person whose profession gives authority to a statement by
					 such person, including without limitation an actuary, assessor, attorney,
					 financial analyst, geologist, investment adviser, mineralogist, petrologist or
					 tax consultant, and any firm or other organization or association engaged in
					 the practice of any such profession.
(b) "Expertized material" means any
					 statement, report, valuation, opinion or other material, or any summary of or
					 quotation from any of the foregoing, that is represented to have been prepared
					 or certified by an expert acting as such, and any statement, report, valuation,
					 opinion which is stated to be made on the authority of the expert.
(c) "Prospectus or offering circular" means
					 any written or printed prospectus, offering circular, proxy statement, notice,
					 advertisement, letter, financial statement, report or communication (including
					 any exhibits or attachments incorporated therein) and any communication by
					 radio, television, movie, magnetic recording or similar medium of communication
					 issued, circulated or distributed, in connection with the offer or sale of a
					 security.
(d) "Written consent"
					 means a written consent to the inclusion in or reference to expertized material
					 in a prospectus or offering circular and to the inclusion of the name of the
					 expert in the prospectus or offering circular required by and filed pursuant to
					 Section 260.504.2.2, whether or not the
					 expert giving such consent knew that it was so required to be filed and would
					 be filed in accordance with Section
					 260.504.2.2.
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Sections
						  25140,
						  25300
						  and
						  25504.2,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 1 - Expert's Liability › Section 260.504.2.2 - Written Consent of Expert

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) When Consent Required. Except as provided
					 in Subsection (b), no person shall use any prospectus or offering circular in
					 connection with an offer or sale of securities which is required to be
					 qualified pursuant to Part 2 (commencing with Section
					 25100) of Division 1 of Title 4 of
					 the Code which contains any expertized material or with which any expertized
					 material is distributed or in which any expertized material is referred to
					 unless the expert is named in the prospectus or offering circular and a written
					 consent has been filed in accordance with subsection (d).
(b) Written Consent Not Required. Subsection
					 (a) shall not apply in any of the following instances:
(1) The application seeks authority to offer
					 or sell securities only to named persons, unless the Commissioner by order
					 otherwise requires in the particular circumstances.
(2) In connection with other types of
					 offerings, the Commissioner does not require the filing of a written consent of
					 the expert upon a request of the applicant because of undue hardship or other
					 sufficient cause.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 1 - Expert's Liability › Section 260.504.2.3 - Disclosure of Interest of Expert

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) When an expert is named in a prospectus
					 or offering circular in accordance with Section
					 260.504.2.2, there shall be
					 disclosed in the prospectus the nature and amount of any direct or indirect
					 material interest of any such expert in the issuer of such securities,
					 including any such interest received or to be received, in connection with the
					 offering which is the subject of the prospectus or offering circular, by such
					 expert, or by the expert's firm, or by members of such firm participating in
					 the matter, other than fees paid in cash or to be paid in cash to such expert,
					 firm or members. Employment by the issuer, other than retainer as such expert,
					 shall also be disclosed in the prospectus or offering circular.
(b) The above interests will not be deemed
					 material if the amount of the interest, including the fair market value of all
					 securities of the issuer owned, received and to be received, or subject to
					 options, warrants or rights received and to be received by such firm or all
					 members of the firm participating in the matter does not exceed $30,000 in the
					 aggregate and not more than $10,000 for such expert or any individual member of
					 the firm participating in the matter. For the purposes of this section, the
					 term "member" means any director or executive officer of any corporate entity,
					 a trustee of any trust, a general partner in any venture or partnership, and
					 any other person having responsibilities comparable to the foregoing with
					 respect to any other expert which is not an individual; and the term "firm"
					 includes any organization or association of experts, acting in such capacity.
					 This subsection does not create any presumption that an interest exceeding the
					 amounts herein defined is material.
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Sections
						  25140
						  and
						  25300,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 1 - Expert's Liability › Section 260.504.2.4 - Notice Pursuant to Section 25504.2(b)(3) of the Code

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A notice pursuant to Subdivision (b)(3) of Section
						25504.2 of the Code that an expert
						will not be responsible for a part of a document, report or evaluation is not
						effective prior to its receipt by both the issuer and the
						Commissioner.
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Section
						  25504.2,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.508 - Form of Application for Approval of Repurchase Offer. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 1-22-75; effective thirtieth day thereafter (Register 75, No. 4.
						For prior history, see Register 74, No. 4.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.534 - Transfer Restriction Imposed by Order of the Commissioner

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The issuer of any securities who receives an order issued
						by the Commissioner pursuant to Section
						25534 of the Code shall comply
						with Section
						260.141.11 of these rules, and it
						shall be unlawful for the holder of any such securities to make any disposition
						thereof in nonconformity with such rule, unless such order otherwise provides,
						or unless such order is revoked or modified by the Commissioner or the
						conditions imposed by such order are removed pursuant to Section
						260.141.12 of these
						rules.
1.
						Amendment filed 1-4-77; effective thirtieth day thereafter (Register 77, No.
						2). For prior history, see Register 74, No. 9.
2. Amendment refiled
						1-7-77; effective thirtieth day thereafter (Register 77, No.
						2).
Note: Authority cited: Section
						  25610,
						  Corporations Code. Additional authority cited: Division 1, Title 4 and Section
						  25534,
						  Corporations Code. Reference: Section
						  25534,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.608 - Fees for Publications

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 Publications issued by the Commissioner shall be available for the charges set
					 forth below, except that these charges shall not apply to other governmental
					 agencies.
(b) Individual Copies.
					 Individual copies of the releases, notices of rule changes and other
					 publications of the Commissioner may be obtained upon request from any office
					 of the Department. Mail requests should be directed to the Department of
					 Business Oversight, 320 West 4th Street, Suite 750, Los Angeles, California
					 90013-2344. No charge is made for individual copies of current publications.
					 The charge for items which are not current is the regular charge for copy
					 work.
(c) Mailing Lists. A charge
					 per year in the amount indicated below is made for each individual mailing list
					 to receive releases, notices of rule changes and other publications of the
					 Commissioner pertaining to a particular law administered by the Department.
					 Requests to be placed on a mailing list should be directed to the Department of
					 Business Oversight, 320 West 4th Street, Suite 750, Los Angeles, California
					 90013-2344.
(1) California Finance Lenders Law
					 ($4.00)
(2) California Residential
					 Mortgage Lending Act ($4.00)
(3)
					 Capital Access Company Law ($4.00)
(4) Check Sellers, Bill Payers and Proraters
					 Law ($1.00)
(5) Corporate
					 Securities Law and Commodity Law ($10.00)
(6) Escrow Law ($2.00)
(7) Franchise Investment Law
					 ($2.00)
(8) General Mailing List
					 ($27.00) includes items (1) through (7).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.608.1 - Broker-Dealer Office or Location. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 9-2-77; effective thirtieth day thereafter (Register 77, No.
						36).
2. Change without regulatory effect repealing section filed
						4-22-93 pursuant to section
						100, title 1, California Code of
						Regulations (Register 93, No. 17).
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Sections
						  25204,
						  25211,
						  25216,
						  25241,
						  25605
						  and
						  25608,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.608.2 - Agent Program Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 The fee for filing a Uniform Application for Securities Industry Registration
					 and Transfer Form (Form U-4), pursuant to subsections (b) and (c) of Section
					 260.210 is $25 for each
					 agent.
(b) Upon filing fingerprints
					 of an agent pursuant to subsection (c) of Section
					 260.210, a broker-dealer shall
					 reimburse the Department of Business Oversight the fee charged by the
					 Department of Justice (Penal Code Section
					 11105) for
					 processing Noncriminal Applicant Fingerprints.
1. New
						section filed 11-29-79 as an emergency; designated effective 1-1-80 (Register
						79, No. 48). Certificate of Compliance included.
2. Amendment filed
						3-16-84; designated effective 3-26-84 pursuant to Government Code section
						11346.2(d)
						(Register 84, No. 11).
3. Change without regulatory effect amending
						subsection (a) filed 11-20-91 pursuant to section
						100, title 1, California Code of
						Regulations (Register 92, No. 9).
4. Amendment filed 6-1-98;
						operative 6-1-98 pursuant to Government Code section
						11343.4(d)
						(Register 98, No. 23).
5. Change without regulatory effect amending
						subsection (b) filed 8-13-2014 pursuant to section
						100, title 1, California Code of
						Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						  25610,
						  Corporations Code. Reference: Section
						  25608,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.608.3 - Notices and Reports Under Section 25105 Rules

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The fee for filing a notice of transaction pursuant to
						Rule 260.105.33(c), whether or not the notice specifies that both Rules
						260.105.33 and 260.105.34 are claimed for the transaction, shall be determined
						based on the value of the securities sold in the transaction for which the
						notice is filed and in accordance with Section
						25608(g) of the
						code, and shall be as follows:
Value of Securities
								Sold
Filing Fee
$25,000
or less..........................
..........................$25
$25,001
to
								$100,000..........................
..........................$35
$100,001
to
								$500,000..........................
..........................$50
$500,001
to$1,000,000..........................
..........................$150
Over $1,000,000
..............................................................................$300
No fee is payable upon the filing of an amended notice
						unless the amendment increases the "value of securities sold" in an amount
						which would have increased the fee for the previous notice. In that case, the
						fee due is the amount due based on the value of securities specified in the
						amended notice less the fee originally paid.
1. New
						section filed 9-30-83 as an emergency; effective eleventh day thereafter
						(Register 83, No. 40). A Certificate of Compliance must be transmitted to OAL
						within 120 days or emergency language will be repealed on
						1-28-84.
2. Editorial correction filed 10-3-83 redesignating
						effective date of 9-30-83 emergency order to 9-30-83 (Register 83, No.
						40).
3. Certificate of Compliance as to 9-30-83 order transmitted to
						OAL 1-25-84 and filed 2-16-84 (Register 84, No.
						7).
Note: Authority cited: Sections
						  25608(w)
						  and
						  25610,
						  Corporations Code. Reference: Sections
						  25105
						  and
						  25608,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 13 - General Provisions › Subarticle 2 - Miscellaneous Provisions › Section 260.617 - Charges for Copies of Documents

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following charges shall be made for copies and
						telecopies of documents furnished by the Commissioner and for certification
						thereof:
(a) Two dollars for each
					 certificate under seal affixed thereto, plus 30 cents for each page or fraction
					 thereof to be certified, whether the copies to be certified are furnished by
					 the person requesting the certification or by the Commissioner.
(b) Thirty cents for each page or fraction
					 thereof when the copies are not to be certified.
(c) One dollar for each page or fraction
					 thereof when the copies are sent by telephone transceiving equipment.
1.
						Editorial correction adding NOTE filed 3-9-83 (Register 83, No.
						11).
2. Amendment of initial paragraph and new subsection (c) filed
						3-15-90; operative 4-14-90 (Register 90, No. 11).
3. Change without
						regulatory effect amending subsection (a) filed 4-21-94 pursuant to title 1,
						section 100, California Code of
						Regulations (Register 94, No. 16).
Note: Authority cited: Sections
						  25610
						  and
						  25617,
						  Corporations Code. Reference: Section
						  25617,
						  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.2 - Retirement Systems [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				Subchapter 2.2 (Sections
				280.000-280.105, not consecutive)
				filed 5-19-77; effective thirtieth day thereafter (Register 77, No. 21). For
				prior history, see Registers 71, No. 2, and 72, Nos. 2 and 32.
Note: Authority cited for Subchapter 2.2: Sections EC 28002,
				  28003, 28103 and 28200, Corporations Code. Reference: Sections
				  28000
				  through
				  28305,
				  Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 1 - Definitions › Section 280.100 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) "Code" means
				  the California Corporations Code.
(b) "Commissioner" means the Commissioner of
				  Business Oversight.
(c)
				  "Department" means the Department of Business Oversight.
1. New
					 subchapter 2.3 (articles 1-12, sections
					 280.100-280.700), article 1
					 (section 280.100) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
2. Change without regulatory effect amending
					 subsections (b) and (c) filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28951,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 2 - Application for Licensure and Related Forms › Section 280.150 - Office Location for Filing of Application and Related Forms

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
All applications, notices or forms under the Capital Access
					 Company Law must be filed in the Sacramento Office of the Department of
					 Business Oversight, located at 1515 K Street, Suite 200, Sacramento, CA
					 95814.
1. New
					 article 2 (sections
					 280.150-280.154) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
2. Change without regulatory effect amending
					 section filed 9-25-2002 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2002, No. 39).
3. Change without regulatory
					 effect amending section filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28951,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 2 - Application for Licensure and Related Forms › Section 280.152 - Consent to Service of Process; Form

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The consent to service of process shall be made on the
					 following form:
TO THE COMMISSIONER OF BUSINESS OVERSIGHT OF THE
					 STATE OF CALIFORNIA CONSENT TO SERVICE OF PROCESS
KNOW ALL MEN BY THESE PRESENTS
That the undersigned, ______________________________ (a
					 corporation, partnership or limited liability company organized under the laws
					 of the State of _________________________), (an individual), (other
					 ____________________) hereby irrevocably appoints the Commissioner of Business
					 Oversight of the State of California, or the Commissioner's successor in
					 office, to be the undersigned's attorney to receive service of any lawful
					 process in any noncriminal suit, action or proceeding against the undersigned,
					 or the undersigned's successor, executor, or administrator which arises under
					 the Capital Access Company Law or any rule or order thereunder after this
					 consent has been filed, with the same force and validity as if served
					 personally on the undersigned.
For the purpose of compliance with the Capital Access
					 Company Law, notice of the service and a copy of the process should be sent by
					 registered or certified mail to the undersigned at the following
					 address:
___________________________
(Name and Address)
Dated:___________________________
By___________________________
Title___________________________
ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
COUNTY OF __________)
___________________________
On ____________________ before me, (here insert the name
					 and title of the officer), personally appeared personally known to me (or
					 proved to me on the basis of satisfactory evidence) to be the person(s) whose
					 name(s) is/are subscribed to the within instrument and acknowledged to me that
					 he/she/they executed the same in his/her/their authorized capacity(ies), and
					 that by his/her/their signature(s) on the instrument the person(s), or the
					 entity upon behalf of which the person(s) acted, executed the
					 instrument.___________________________
WITNESS my hand and official seal.
Signature___________________________
(Seal)
Any certificate of acknowledgement taken in another place
					 shall be sufficient in California if it is taken in accordance with the laws of
					 the place where the acknowledgement is made. See, California Civil Code Section
					 1189.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
2. Change without regulatory effect amending
					 form filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Sections
						28108
						and
						28951,
						Corporations Code. Reference: Section
						28108,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 2 - Application for Licensure and Related Forms › Section 280.153 - Notice of Officers, Directors, Partners, "Control" Persons, Managers, Members, Trustees and Employees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The notice to accompany the filing of an
				  individual's fingerprints required in the following circumstances shall be made
				  on the form set forth in subsection (b) of this rule:
(1) In compliance with the requirements of
				  Exhibit C to Item 10 of the application for license (Rule 280.151);
(2) In compliance with the requirements for
				  filing an application for change of control (Rule 280.250);
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 2 - Application for Licensure and Related Forms › Section 280.154 - Amendments to Application

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A licensed capital access company shall, within 30 days
					 after any change in the information contained in its application, other than
					 financial information, file an amendment with the Commissioner. However, for
					 any change in the persons listed in Item 4 of the application, the licensed
					 capital access company must file an amendment with the Commissioner within five
					 days of the change.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 3 - Application Requesting Approval to Surrender License › Section 280.200 - Application Requesting Approval to Surrender License

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
An application requesting approval to surrender a license
					 as a capital access company shall be made on the following form:
File No. __________
Date of Application __________
COMMISSIONER OF BUSINESS OVERSIGHT STATE OF
					 CALIFORNIA APPLICATION FOR REQUESTING APPROVAL TO SURRENDER CAPITAL ACCESS
					 COMPANY LAW LICENSE PURSUANT TO SECTION
					 28650 OF THE CORPORATIONS
					 CODE
The Application for Requesting Approval to Surrender a
					 Capital Access Company Law License MUST BE TYPEWRITTEN and may only be filed in
					 the Sacramento Office of the Department of Business Oversight.
1. Name of Applicant:
				  ___________________________
2. Name
				  under which business is conducted, if different from
				  above:___________________________
3. Address of actual location of principal
				  place of business:___________________________
___________________________
No. and
							 Street
City
State
ZIP Code
4.
				  State the reason for surrendering the
				  license:___________________________
5. Does the applicant owe any money or
				  securities to any investor?
( ) Yes
( ) No
If answer is
							 "yes", furnish all of the following information:
a. Amount of
				  money owed: $___________________________
b. Arrangements made for the payment of the
				  money owed: ___________________________
c. Market value of securities (if
				  applicable): ___________________________
d. Arrangements made for the return or
				  delivery of securities:___________________________
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 5 - Advertising › Section 280.300 - Prohibited Advertising

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  No capital access company shall advertise that it or any of its officers,
				  employees, or agents are "bonded," "supervised by," "regulated by," "audited
				  by" or "examined by" the State of California or any agency thereof.
(b) A capital access company shall refer to
				  its licensure under the Capital Access Company Law in any written or printed
				  communication or any communication by means of recorded telephone messages,
				  telephonic or electronic media, or spoken on radio, television or similar
				  communications media, only by the following statement: "Licensed by the
				  Department of Business Oversight under the Capital Access Company
				  Law."
1. New
					 article 5 (sections
					 280.300-280.301) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
2. Editorial correction of HISTORY 1
					 (Register 99, No. 27).
3. Change without regulatory effect amending
					 subsection (b) filed 8-13-2014 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2014, No. 33).
Note: Authority cited: Section
						28155,
						Corporations Code. Reference: Section
						28951,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 5 - Advertising › Section 280.301 - "Blind" Advertising Prohibited

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
A capital access company shall not use so-called "blind"
					 advertisements. "Blind" advertising is an advertisement used to solicit
					 business that gives only a telephone number, post office or newspaper box
					 number, or name other than that of the licensee.
1. New
					 section filed 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
2. Editorial correction inserting HISTORY 1
					 (Register 99, No. 27).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28951,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 6 - Fees › Section 280.350 - Fees

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) The filing fee
				  for an application for a license shall be one thousand four hundred dollars
				  ($1,400).
(b) The filing fee for an
				  application for approval to acquire control of a licensee shall be nine hundred
				  dollars ($900).
(c) Subject to the
				  limitations in Section
				  28110(a)(3)
				  of the Corporations Code, the filing fee for an application for approval for a
				  licensee to merge with another company, or to purchase all or substantially all
				  of the business of another person, or to sell all or substantially all of its
				  business, shall be nine hundred dollars ($900).
1. New
					 article 6 (section
					 280.350) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Section
						28110,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2.3 - Capital Access Companies › Article 8 - Unsafe and Unsound Acts › Section 280.450

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For purposes of Sections
					 28551,
					 28604
					 and
					 28703 of
					 the Corporations Code, unsafe and unsound acts include, but are not limited, to
					 the following activities:
(a) Failing
				  to maintain adequate working capital to provide reasonable assurance that the
				  licensee will be able to operate actively and in accordance with its Articles
				  and within the context of the business plan;
(b) Operating at variance with the basic
				  organizational documents as filed pursuant to Commissioner's Rule
				  280.151.
(c) Amending the
				  organizational documents in a manner that is inconsistent with Section
				  28200 of the Code.
(d) Any officer, director, employee, agent,
				  or other participant in the management or conduct of the affairs of a licensee
				  engages in any act or practice, or omits any act, in breach of his or her
				  fiduciary duty as such officer, director, employee, agent, or participant, if,
				  as a result thereof, the licensee has suffered or is in imminent danger of
				  suffering financial loss or other damage.
(e) Engaging in any conduct which constitutes
				  fraud of dishonest dealing or unfair competition, as defined by Section
				  17200
				  of the Business and Professions Code.
(f) Permitting any person other than the
				  officers, directors, partners, members, trustees, or employees listed in Item 4
				  of the application to have access to or responsibility for the funds of the
				  capital access company.
(g) Failing
				  to maintain a tangible net worth of $250,000.
(h) Failing to maintain the required fidelity
				  bond coverage.
(i) Failing to
				  obtain a majority vote of the board of directors, executive committee or other
				  policy body approving the appointment or change in the accountant certifying
				  the licensee's financial statements.
(j) Commingling the general funds of the
				  capital access company with the investment funds.
1. New
					 article 8 (section
					 280.450) and section filed
					 6-24-99; operative 7-1-99 pursuant to Government Code section
					 11343.4(d)
					 (Register 99, No. 26).
Note: Authority cited: Section
						28951,
						Corporations Code. Reference: Sections
						28551,
						28604,
						and
						28703,
						Corporations Code.