California Financial Code

§ 5105.8

FIN § 5105.8 Effective Jun 21, 1984Div. 2 · Ch. 1 · Art. 2

Statute text

“Corporate debt security” means a marketable obligation, evidencing the indebtedness of any corporation in the form of a bond, note, or debenture, or both note and debenture, which is commonly regarded as a debt security and is not predominantly speculative in nature. A security is marketable if it may be sold with reasonable promptness at a price which corresponds reasonably to its fair value.

Legislative history

Added by Stats. 1984, Ch. 225, Sec. 3. Effective June 21, 1984.