California Corporations Code

§ 25120

CORP § 25120 Effective Jan 1, 2003Div. 1 · Title 4 · Part 2 · Ch. 3

(a)Except as provided in subdivision (b), it is unlawful for any person to offer or sell in this state any security in any of the following manners:

(1)In an issuer transaction in connection with any change in the rights, preferences, privileges, or restrictions of or on outstanding securities.

(2)In any exchange of securities by the issuer with its existing security holders exclusively.

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Legislative history

Amended by Stats. 2002, Ch. 964, Sec. 2. Effective January 1, 2003.