California Business and Professions Code

§ 6175.3

BPC § 6175.3 Effective Jan 1, 2000Div. 3 · Ch. 4 · Art. 10.5

Statute text

A lawyer, while acting as a fiduciary, may sell financial products to a client who is an elder or dependent adult with whom the lawyer has or has had, within the preceding three years, an attorney-client relationship, if the transaction or acquisition and its terms are fair and reasonable to the client, and if the lawyer provides that client with a disclosure that satisfies all of the following conditions:

(a)The disclosure is in writing and is clear and conspicuous. The disclosure shall be a separate document, appropriately entitled, in 12-point print with one inch of space on all borders.

(b)The disclosure, in a manner that should reasonably have been understood by that client, is signed by the client, or the client’s conservator, guardian, or agent under a valid durable power of attorney.

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Legislative history

Added by Stats. 1999, Ch. 454, Sec. 1. Effective January 1, 2000.