California Financial Code

§ 2083

FIN § 2083 Effective Jan 1, 2024Div. 1.2 · Ch. 5

Statute text

(a)In computing, for purposes of Section 2082, the aggregate value of eligible securities owned by a licensee, all of the following shall be excluded:

(1)The value of any eligible security if and to the extent that the value of the eligible security, when combined with the aggregate value of all other eligible securities owned by the licensee that are issued or guaranteed by the same person or by any affiliate of the same person by whom the eligible security is issued or guaranteed, exceeds 10 percent of the aggregate value of all eligible securities owned by the licensee.

(2)(A) Subject to subparagraph (B), the portion of the aggregate value of all eligible securities of the type described in paragraph (10) of subdivision (b) of Section 2082 that exceeds 25 percent of the aggregate value of all eligible securities owned by the licensee; and that portion of the aggregate value of agent receivables from any one person that exceeds 10 percent of the aggregate value of all eligible securities owned by the licensee, or any higher percentage that the commissioner may approve for the licensee, up to a maximum of 20 percent.

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Legislative history

Amended by Stats. 2023, Ch. 463, Sec. 8. (AB 1116) Effective January 1, 2024.