reglab/statecodes huggingface dataset:
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105 - Exemption for Offers Prior to Sale

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Sections
					 25110,
					 25120 and
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors any offer of securities provided
					 that the securities are actually sold only in a transaction exempted under
					 subdivision (i) of Section
					 25102 or subdivision (c) of
					 Section 25104 of the Code, or in a
					 transaction exempted under Section
					 260.105.14 of these rules, or
					 provided that the securities are exempt securities at the time of issuance
					 under Section
					 25100 of the
					 Code.
1. Amendment
					 filed 4-30-70 as an emergency; designated effective 5-1-70 (Register 70, No.
					 18).
2. Certificate of Compliance filed 6-10-70 (Register 70, No.
					 24).
3. Editorial correction adding NOTE filed 3-9-83 (Register 83,
					 No. 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105,
						25110,
						25120
						and
						25130,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.1 - Exemption for Oil and Gas Interests Issued for Drillsite Rights or Transit Rights

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors any offer or sale of any interest
					 or participation in an oil or gas title or lease (including subsurface gas
					 storage) or in payments out of production under such a title or lease if the
					 sole consideration given by the purchaser for the security is the grant or
					 lease of a drillsite or of rights for a well to traverse his property where the
					 well in either case is drilled for the purpose of producing oil or gas from
					 beneath other land.
1. Editorial
					 correction adding NOTE filed 3-9-83 (Register 83, No.
					 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105
						and
						25110,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.2 - Out-of-State Sales and Sales to Broker-Dealers

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 and Section
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any offer or sale of a security by
					 or through a broker-dealer licensed under the Code (whether acting as such or
					 as a finder), to a resident of a foreign state, territory or country who is
					 neither domiciled in this State to the knowledge of the broker-dealer nor
					 actually present in this State if the sale of such security is not in violation
					 of any securities law of the foreign state, territory or country concerned, and
					 any offer or sale to a broker-dealer licensed under the Code in a principal
					 transaction (or for resale pursuant to an exemption contained in the Code or in
					 these Rules) or as an underwriter or a member of an underwriting syndicate or
					 selling group.
1. Amendment
					 filed 10-1-69; effective thirtieth day thereafter (Register 69, No.
					 40).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code, reference: Sections
						25105,
						25110
						and
						25130,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.3 - Effective Date of Requirement of Qualification for Secondary Trading. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 4-24-69 as an emergency; designated effective 5-1-69 (Register 69, No.
					 17).
2. Amendment filed 6-9-69 as an emergency; designated effective
					 6-10-69 (Register 69, No. 24).
3. Certificate of Compliance Section
					 11422.1,
					 Gov. Code, filed 10-1-69 (Register 69, No. 40).
4. Repealer filed
					 1-22-75; effective thirtieth day thereafter (Register 75, No.
					 4).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.4 - Sale of Franchise. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer
					 filed 1-11-72; effective thirtieth day thereafter (Register 72, No.
					 3).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.5 - Phantom Stock Plans

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 of the Code, as not being
					 comprehended within the provisions of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any transaction whereby an issuer
					 allocates to its employees or employees of its parent or subsidiaries "units"
					 representing a right eventually to receive cash (but not stock) measured by
					 dividends paid on shares of capital stock of the issuer or the market value of
					 shares of capital stock of the issuer or both in a so-called "phantom stock
					 plan."
1. Amendment
					 filed 1-22-75; effective thirtieth day thereafter (Register 75, No.
					 4).
2. Amendment filed 10-20-83; effective thirtieth day thereafter
					 (Register 83, No. 43).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.6 - Professional Organizations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 and Section
					 25120 of the Code, as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors.
(a) Any offer or sale of (1) shares of
				  capital stock issued by (A) a professional corporation organized pursuant to
				  the provisions of the Professional Corporation Act (Part 4, commencing with
				  Section 13400, of Division 3 of Title 1 of
				  the Corporations Code) or (B) a foreign professional corporation (as defined in
				  subdivision (c) of Section
				  13401 of the Code) qualified to
				  render professional services in this state in accordance with the requirements
				  of the Professional Corporation Act, or (2) an interest, to the extent the
				  interest is a security, in (A) a registered limited liability partnership (as
				  defined in paragraph (1) of subdivision (i) of Section
				  15002 of the Code) or (B) a
				  foreign limited liability partnership (as defined in paragraph (1) of
				  subdivision (j) of Section
				  15002 of the Code).
(b) Any offer or sale of beneficial interests
				  in a trust established for the purpose of voting shares of the capital stock of
				  such a professional corporation or a foreign professional corporation qualified
				  to render professional services in this state, provided that the trustees are,
				  and such interests are held solely by, persons entitled under the provisions of
				  the Professional Corporation Act to hold voting shares in such
				  corporation.
(c) Any offer or sale
				  of interests in a partnership organized to render professional services as
				  defined in Section
				  13401(a) of the
				  Code, all of whose partners are persons entitled to hold voting shares in a
				  professional corporation or a foreign professional corporation engaged in such
				  services under the provisions of the Professional Corporation Act.
1. Amendment
					 filed 10-20-83; effective thirtieth day thereafter (Register 83, No.
					 43).
2. Amendment of section and NOTE filed 11-2-94; operative
					 12-2-94 (Register 94, No. 44).
3. Amendment of subsection (a) and
					 NOTE filed 9-10-96; operative 10-10-96 (Register 96, No.
					 37).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Sections
						13401,
						15002
						and
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.7 - Inter-Dealer Quotations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, inter-dealer solicitations when
					 published and circulated to broker-dealers on a regular subscription basis and
					 in connection with which a charge (which may be included in the subscription
					 price) is made for listing such solicitations. A publication is circulated to
					 broker-dealers within the meaning of this rule when subscriptions are limited
					 substantially to broker-dealers, banks, trust companies, and savings and loan
					 associations subject to a provision that the information contained in the
					 publication is for the private use of the subscriber. The quotation services of
					 the Pink Sheets LLC, the OTC Bulletin Board, and The NASDAQ Stock Market LLC
					 are exempt pursuant to this rule.
1. Amendment
					 filed 10-1-69; effective thirtieth day thereafter (Register 69, No.
					 40).
2. Amendment filed 7-20-72; effective thirtieth day thereafter
					 (Register 72, No. 30).
3. Editorial correction adding NOTE filed
					 3-9-83 (Register 83, No. 11).
4. Amendment filed 11-10-2009;
					 operative 12-10-2009 (Register 2009, No. 46).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105
						and
						25130,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.8 - Incentive Stock Option Plans

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				  provisions of Section
				  25110 of the Code as not being
				  comprehended within the purposes of the Corporate Securities Law of 1968 and
				  the qualification of which is not necessary or appropriate in the public
				  interest or for the protection of investors, any offer or sale of incentive
				  stock options as defined in, and complying with all terms of, the United States
				  Internal Revenue Code of 1986, if
(1) the
				  company issuing such options is the issuer of any security registered under
				  Section 12 of the Securities Exchange Act
				  of 1934, (15 USC
				  781), and
(2) the total number of shares of stock of
				  the company subject to such incentive stock options (and all other employee
				  stock options outstanding), does not exceed 10% of the outstanding shares of
				  the same class of the company (excluding all shares subject to promotional
				  waivers) and (3) options granted prior to shareholder approval are by their
				  terms not exercisable until shareholder approval has been obtained and are void
				  if shareholder approval is not obtained within the time prescribed by the
				  Internal Revenue Code of 1986.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.9 - Split or Reverse Split of Beneficial Interests in Voting Trust

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 and Section
					 25120 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968, and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any offer or sale of beneficial
					 interests in any voluntary inter vivos trust created solely for the purpose of
					 voting, if such offer or sale is the result of a stock split or reverse stock
					 split of the underlying securities which is exempted from the provisions of
					 Section 25110 and Section
					 25120 of the Code by virtue of the
					 provisions of Section
					 25103(f) of the
					 Code, or of the issuance of underlying securities as a stock dividend which is
					 not a sale as defined in Section
					 25017(f) of the
					 Code. Any beneficial interests issued pursuant to the exemption provided by
					 this Section shall be subject to any conditions imposed by the Commissioner
					 applicable to beneficial interests previously issued with respect to the
					 underlying securities which are the subject of such stock split, reverse stock
					 split, or stock dividend.
1. New
					 section filed 5-14-69; effective thirtieth day thereafter (Register 69, No.
					 20).
2. Amendment filed 3-20-78; effective thirtieth day thereafter
					 (Register 78, No. 12).
3. Editorial correction adding NOTE filed
					 3-9-83 (Register 83, No. 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25017,
						25103,
						25105,
						25110
						and
						25120,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.10 - Securities of Foreign Issuers. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 4-24-69 as an emergency; designated effective 5-1-69 (Register 69, No.
					 17).
2. Repealed by operation of law (Register 72, No.
					 12).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.12 - Temporary Nonissuer Exemption. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 10-1-69; effective thirtieth day thereafter (Register 69, No.
					 40).
2. Repealer filed 1-22-75; effective thirtieth day thereafter
					 (Register 75, No. 4).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.13 - Extended Eligibility for Nonissuer Transaction. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 10-1-69; effective thirtieth day thereafter (Register 69, No.
					 40).
2. Repealer filed 1-22-75; effective thirtieth day thereafter
					 (Register 75, No. 4).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.13.1 - Private Resales Under Securities and Exchange Commission Rule 144A

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors any offer to resell or resale of
					 restricted securities made in compliance with Rule 144A (17 CFR
					 230.144A) of the Securities and Exchange
					 Commission.
1. New
					 section filed 3-1-93; operative 3-31-93 (Register 93, No.
					 10).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105
						and
						25130,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.14 - Sales to Public Agencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Sections
					 25110,
					 25120 and
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors any offer or sale of a security to
					 the Federal Government, any agency or instrumentality of the Federal
					 Government, any corporation wholly owned by the Federal Government, any state,
					 any city, city and county, or county, or any agency or instrumentality of a
					 state, city, city and county, or county, or any state university or state
					 college, and any retirement system for the benefit of employees of any of the
					 foregoing.
1. New
					 section filed 4-30-70; as an emergency; designated effective 5-1-70 (Register
					 70, No. 18).
2. Certificate of Compliance filed 6-10-70 (Register
					 70, No. 24).
3. Amendment filed 7-13-70; effective thirtieth day
					 thereafter (Register 70, No. 29).
4. Editorial correction of NOTE
					 filed 3-9-83 (Register 83, No. 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105,
						25110,
						25120
						and
						25130,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.15 - Exemption from Qualification of Certain Exchanges

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is exempted from the provision of section
					 25110 of the Code, as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, the offer and sale of securities
					 of one entity in exchange for all securities issued by another entity (the
					 "Acquired Entity"), except for directors' qualifying shares, if all of the
					 following requirements are met:
(a)
(1) Such exchange is subject to approval
				  after a hearing as to the fairness of its terms and conditions, by public
				  commission, board or other governmental authority of a state expressly
				  authorized by the law of such state to grant such approval, or
(2) such exchange is subject to approval by
				  the affirmative vote of not less than a majority (unless the requirement is
				  increased by a provision contained in the articles of incorporation, bylaws or
				  applicable state law) of the outstanding securities of the Acquired Entity of
				  the class which are to be exchanged, excluding from such outstanding securities
				  the securities of any person who owns, directly or beneficially, 50 percent or
				  more of such outstanding securities;
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.16 - Checks, Drafts, and Money Orders

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 of the Code, as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, the offer and sale of checks,
					 drafts, or money orders by a person holding an effective license from the
					 Commissioner of Corporations to engage in the business of selling checks,
					 drafts, or money orders, or an effective license from the Superintendent of
					 Banks to transact the business permitted by Chapter 14 of the Banking Law (1750
					 et seq., Financial Code).
1. New
					 section filed 6-28-73; effective thirtieth day thereafter (Register 73, No.
					 26).
2. Editorial correction adding NOTE filed 3-9-83 (Register 83,
					 No. 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105
						and
						25110,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.18 - Commodity Contracts. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 1-4-77; effective thirtieth day thereafter (Register 77, No. 2). For
					 prior history, see Register 75, No. 4.
2. Amendment refiled 1-7-77;
					 effective thirtieth day thereafter (Register 77, No. 2).
3. Repealer
					 filed 3-13-80; effective thirtieth day thereafter (Register 80, No.
					 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.19 - Exemption for Certain Commodity Contracts. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 10-25-73 as an emergency; effective upon filing (Register 73, No.
					 43).
2. Amendment filed 10-26-73 as an emergency; effective upon
					 filing (Register 73, No. 43).
3. Amendment filed 2-22-74 as an
					 emergency; effective upon filing. Certificate of Compliance included (Register
					 74, No. 8).
4. Repealer filed 1-22-75; effective thirtieth day
					 thereafter (Register 75, No. 4).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Div. 1, Title 4 and Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.21 - Exemption for Amendments to Limited Partnership Agreements Pursuant to Corporations Code Section 15520.5. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 10-18-74 as an emergency; effective upon filing (Register 74, No.
					 42).
2. Certificate of Compliance filed 12-24-74 (Register 74, No.
					 52).
3. Amendment filed 3-20-78; effective thirtieth day thereafter
					 (Register 78, No. 12).
4. Repealer filed 8-7-85; effective thirtieth
					 day thereafter (Register 85, No. 32).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.22 - Shares of Foreign Subsidiaries

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968, and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any offer or sale of common shares
					 issued by any corporation organized under the laws of a foreign country,
					 provided all of the following conditions are met:
(a) After such offer and sale, 100% of the
				  outstanding capital stock of the issuer is owned by a corporation, directly or
				  indirectly, in its own name or in the name of nominees or other persons holding
				  for the sole benefit of such corporation;
(b) The acquiring corporation represents that
				  such securities are purchased for its own account for investment and not with a
				  view to, or for sale in connection with, any distribution of the shares;
				  and
(c) All such shares shall be
				  evidenced by certificates which shall have stamped or printed prominently on
				  their face a legend in the form prescribed by Section
				  260.141.11 of these rules, and the
				  sale or transfer of the shares or any interest therein, shall be subject to the
				  restrictions provided in that Section, provided that such securities may be
				  transferred without the consent of the Commissioner to such corporation or to
				  any nominee or other person holding for the sole benefit of such
				  corporation.
1. New
					 section filed 1-22-75; effective thirtieth day thereafter (Register 75, No.
					 4).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
					 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105,
						25110
						and
						25120,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.23 - Exemption for Advances to Corporations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any transaction in which money is
					 advanced or loaned to a corporation ("issuer") with an agreement or expectation
					 that shares of the issuer will be issued in exchange for, cancellation of, or
					 conversion of such advances or loans, provided that all of the following
					 requirements are met:
(a) The
				  aggregate amount of the advances or loans made does not substantially exceed
				  the funds required to pay the fees and expenses of organization and the initial
				  issuance of share certificates, including attorney fees.
(b) The advance or loan is made by persons,
				  each of whom is in one or more of the following classes:
(1) By a corporation, directly or indirectly,
				  which will have a direct or indirect interest in the issuer.
(2) By any officer, director or controlling
				  shareholder of such corporation.
(3) By any partnership whose business the
				  issuer intends to acquire.
(4) By
				  any partner of such partnership.
(5) By any person who is or is expected to
				  become an officer or director of the issuer.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.26 - Exemption for Preneed Funeral Trust Arrangements

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Sections
					 25110 and
					 25120 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors, any offer or sale of a beneficial
					 interest in an inter vivos funeral trust meeting the requirements of Division
					 3, Chapter 12, Article 9 (commencing with Section
					 7735) of the Business and
					 Professions Code.
1. New
					 section filed 5-17-77; effective thirtieth day thereafter (Register 77, No.
					 21).
2. Editorial correction of NOTE filed 3-9-83 (Register 83, No.
					 11).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105,
						25110
						and
						25120,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.27 - Temporary Nonissuer Exemption. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Amendment
					 filed 6-21-78 as an emergency; designated effective 6-30-78 (Register 78, No.
					 25). For prior history, see Register 78, No. 14.
2. Amendment filed
					 8-24-78 as an emergency, designated effective 8-31-78 (Register 78, No.
					 34).
3. Repealer filed 8-7-85; effective thirtieth day thereafter
					 (Register 85, No. 32).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Sections
						25101
						and
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.28 - Reliance on Eligible Securities List. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 4-4-78; effective thirtieth day thereafter (Register 78, No.
					 14).
2. New section refiled 4-4-78; effective thirtieth day
					 thereafter (Register 78, No. 14).
3. Amendment filed 8-11-89;
					 operative 8-11-89 (Register 89, No. 33).
4. Change without
					 regulatory effect repealing section filed 9-25-2002 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 2002, No. 39).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.29 - Use of Red Herring Offering Circulars in Regulation A Offerings

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of Section
					 25110 and
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968 and
					 the qualification of which is not necessary or appropriate in the public
					 interest or for the protection of investors any offer (but not a sale) of a
					 security for which a notification on Form 1A (Regulation A Offering Statement
					 under the Securities Act of 1933) has been filed with the Securities and
					 Exchange Commission and for which an application for qualification has been
					 filed pursuant to said sections of the Code, provided each of the following
					 conditions is met:
(a) No order is in
				  effect and no public proceeding or examination looking toward such an order is
				  pending under Rule 261 (17
				  CFR 230.261) pursuant to the Securities
				  Exchange Act of 1933 and no order under Section
				  25140 or subdivision (a) of
				  Section 25143 of the Code is in effect;
				  and
(b) The offering circular
				  distributed pursuant to this section has been on file with the Commissioner for
				  not less than 3 business days and no order with respect thereto has been issued
				  pursuant to Section
				  25302 of the Code; and
(c) The offer and sale of the securities is
				  made by or through only a licensed broker-dealer; and
(d) If material changes or corrections are
				  made in the offering circular referred to in subsection (b), each sale pursuant
				  to the qualification applied for, if granted, shall be made upon the condition
				  that the purchaser may rescind within 3 business days after receipt of the
				  final offering circular and the final offering circular has prominently upon
				  its face in not less than 10-point type the following legend:
MATERIAL CHANGES AND CORRECTIONS HAVE BEEN MADE IN THIS
					 OFFERING CIRCULAR FROM THE PRELIMINARY OFFERING CIRCULAR DATED __________,
					 AFFECTING THE INFORMATION RELEVANT TO INVESTORS IN THE SECURITIES WHICH ARE
					 BEING OFFERED PURSUANT TO THIS OFFERING CIRCULAR.
1. New
					 section filed 1-25-80; effective thirtieth day thereafter (Register 80, No.
					 4).
2. Amendment filed 7-1-81; effective thirtieth day thereafter
					 (Register 81, No. 27).
3. Amendment filed 8-7-85; effective
					 thirtieth day thereafter (Register 85, No. 32).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Sections
						25105,
						25110,
						25130,
						25140,
						25143
						and
						25302,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.30 - Real Estate Loans: Multiple Lender Transactions. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 8-27-81 as an emergency; effective upon filing (Register 81, No.
					 37).
2. Order of Repeal of 8-27-81 emergency order filed 9-4-81 by
					 OAL pursuant to Government Code Section
					 11349.6
					 (Register 81, No. 37).
3. New section filed 6-24-82; effective
					 thirtieth day thereafter (Register 82, No. 26).
4. Change without
					 regulatory effect filed 3-2-89 (Register 89, No. 11).
5. Change
					 without regulatory effect amending subsection (a) filed 2-16-95 pursuant to
					 section 100, title 1, California Code of
					 Regulations (Register 95, No. 7).
6. Change without regulatory
					 effect amending subsections (h) and (j)(1)(A) and last paragraph filed 12-27-96
					 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 96, No. 52).
7. Repealer filed 8-6-98;
					 operative 9-5-98 (Register 98, No. 32).
Note: Authority cited: Section
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.31 - Limited Offering Exemption-Transitional Exemption. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 10-26-81 as an emergency; designated effective 11-1-81 (Register
					 81, No. 44). A Certificate of Compliance must be transmitted to OAL within 120
					 days or emergency language will be repealed on 2-23-82.
2.
					 Certificate of Compliance transmitted to OAL 2-22-82 and filed 3-24-82
					 (Register 82, No. 13).
3. Repealer filed 8-7-85; effective thirtieth
					 day thereafter (Register 85, No. 32).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.33 - Senior to Listed or Designated Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				  provisions of Sections
				  25110 and
				  25130 of the Code as not being
				  comprehended within the purposes of the Corporate Securities Law of 1968 and
				  the qualification of which is not necessary or appropriate in the public
				  interest or for the protection of investors, any offer or sale of an equity
				  security
(1) which is issued by the issuer of
				  a security listed on an exchange certified by the Commissioner pursuant to the
				  provisions of Section
				  25100(o) of the
				  Code and
(2) which is senior to
				  such listed or designated security, including a senior security which is
				  convertible into another senior security or into securities of the listed or
				  designated class.
Except as provided in the next sentence, an equity security
					 is "senior" to a listed or designated security of the same issuer within the
					 meaning of this section if, upon liquidation or dissolution of the issuer, the
					 holders of such security are entitled to payment from, or to participate in the
					 distribution of assets of, the issuer prior to any payment to, or participation
					 in such distribution of assets by, the holders of such listed or designated
					 security. An equity security is not "senior" to a listed or designated security
					 of the same issuer if it is currently able to be converted into an evidence of
					 indebtedness which does not meet the requirements for the exemption under Rule
					 260.105.34.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.34 - Exemption for Rated Debt Securities

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				  provisions of Section
				  25110 of the Code as not being
				  comprehended within the purposes of the Corporate Securities Law of 1968 and
				  the qualification of which is not necessary or appropriate in the public
				  interest or for the protection of investors, any offer or sale of any evidence
				  of indebtedness, whether or not convertible into any other security, whether
				  secured or unsecured, and any guarantee thereof, which has been rated as an
				  "investment grade security" as defined below by Standard & Poor's Rating
				  Services, Fitch, Inc., or Moody's Investors Service, Inc.
(1) An evidence of indebtedness is an
				  "investment grade security" if it is rated or provisionally rated by Standard
				  & Poor's Rating Services as AAA, AA, A or BBB; Fitch, Inc., as
				  International Long-term AAA, AA, A or BBB or International Short-term F1 to F3;
				  or by Moody's Investors Service, Inc. as Aaa, Aa, or A or Baa, including any
				  such ratings with "+" or "-" designations or other variations that occur within
				  such ratings.
(2) Convertible
				  evidence of indebtedness shall be exempt under this section only if the
				  security which may be issued on conversion (i) is listed or approved for
				  listing upon notice of issuance on a national securities exchange certified by
				  rule or order of the Commissioner pursuant to Section
				  25100(o) of the
				  Code and (ii), if common shares, will have full voting rights equal per share
				  to any other class of outstanding common shares of the
				  issuer.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.35 - Exchange-Traded Options on Stock Indices

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				  provisions of Sections
				  25110 and
				  25130 of the Code as not being
				  comprehended within the purposes of the Corporate Securities Law of 1968 and
				  the qualification of which is not necessary or appropriate in the public
				  interest or for the protection of investors, any offer or sale of
				  exchange-traded options on stock indices ("index options") or guarantees
				  thereof, provided:
(1) The index options are
				  offered or sold by The Options Clearing Corporation on an exchange, or through
				  the facilities of a national securities association, approved by the
				  Commissioner; and
(2) The rules of
				  such exchange, or national securities association, and the rules of The Options
				  Clearing Corporation relating to issuance, clearance, and settlement of index
				  option transactions and relating to the processing and settlement of index
				  option exercises, have been approved by the Securities and Exchange Commission
				  under Section
				  19(b) of the
				  Securities Exchange Act of 1934 (15 U.S.C. Sec.
				  78s(b)).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.36 - Exchange-Traded Options on Foreign Currencies

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) There is hereby exempted from the
				  provisions of Sections
				  25110 and
				  25130 of the Code as not being
				  comprehended within the purposes of the Corporate Securities Law of 1968 and
				  the qualification of which is not necessary or appropriate in the public
				  interest or for the protection of investors, any offer or sale of
				  exchange-traded options on foreign currencies ("foreign currency options"), or
				  guarantees thereof, provided:
(1) The foreign
				  currency options are offered or sold by The Options Clearing Corporation on an
				  exchange approved by the Commissioner; and
(2) The rules of such exchange, and the rules
				  of The Options Clearing Corporation relating to issuance, clearance, and
				  settlement of foreign currency option transactions and relating to the
				  processing and settlement of foreign currency option exercises, have been
				  approved by the Securities and Exchange Commission under Section
				  19(b) of the
				  Securities Exchange Act of 1934 (15 U.S.C. Sec.
				  78s(b)).
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.37 - Exemption for Certain Securities Listed on the Chicago Board Options Exchange. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
					 section filed 7-28-92; operative 7-28-92 pursuant to Government Code section
					 11346.2(d)
					 (Register 92, No. 31).
2. Change without regulatory effect amending
					 subsection (d) filed 9-5-95 pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 95, No. 36).
3. Repealer filed 11-10-2009;
					 operative 12-10-2009 (Register 2009, No. 46).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.39 - Resales of Units in Unit Investment Trusts

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
There is hereby exempted from the provisions of section
					 25110 and section
					 25130 of the Code as not being
					 comprehended within the purposes of the Corporate Securities Law of 1968
					 ("Law") and the qualification of which is not necessary or appropriate in the
					 public interest or for the protection of investors, any offer or sale of units
					 in a unit investment trust by the sponsor of that trust or to or through a
					 broker-dealer, if all of the following conditions are met:
(a)
(1) The
				  offer and sale of the units was previously qualified under section
				  25111 of the Law and
(2) there has been no material change in the
				  offering (see section
				  260.111.2 of these
				  Rules);
California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 2 - Corporate Securities › Article 2 - Exemptions from Qualification › Section 260.105.40 - Certain Canadian Tax-Deferred Retirement Savings Accounts and Canadian Residents

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The offer and sale of Canadian securities to or for a
					 "Canadian Retirement Account", as defined by
					 17 CFR
					 230.237(a)(2) or
					 17 CFR
					 7d-2(a)(2),
					 respectively, or to or for a Canadian resident temporarily resident in or
					 visiting California with whom the Canadian broker-dealer had a bona fide
					 broker-dealer-client relationship before the Canadian resident entered the
					 United States are exempt from the qualifications requirements of Sections
					 25110,
					 25120 and
					 25130 of the Code; provided, that
					 the offer and sale of such Canadian securities are exempt from registration
					 under the Securities Act of 1933. For the purposes of this section, "Canadian
					 securities" means any security issued by an issuer organized under the laws of
					 Canada or its provinces or territories.
1. New
					 section filed 5-24-2001; operative 6-23-2001 (Register 2001, No.
					 21).
Note: Authority cited: Sections
						25105
						and
						25610,
						Corporations Code. Reference: Section
						25105,
						Corporations Code.