California Corporations Code

§ 25103

CORP § 25103 Effective Jan 1, 2010Div. 1 · Title 4 · Part 2 · Ch. 1

Statute text

The following transactions are exempted from the provisions of Section 25110 and Section 25120:

(a)Any negotiations or agreements prior to general solicitation of approval by the holders of equity securities, and subject to that approval, of (1) a change in the rights, preferences, privileges, or restrictions of or on outstanding securities, (2) a merger, consolidation, or sale of assets in consideration of the issuance of securities, or (3) an entity conversion transaction.

(b)Any change in the rights, preferences, privileges, or restrictions of or on outstanding securities or any entity conversion transaction, unless the holders of at least 25 percent of the outstanding shares or units of any class of securities that will be directly or indirectly affected substantially and adversely by that change or transaction have addresses in this state according to the records of the issuer.

…

Legislative history

Amended by Stats. 2009, Ch. 500, Sec. 29. (AB 1059) Effective January 1, 2010.