California Corporations Code

§ 25104

CORP § 25104 Effective Jul 26, 1993Div. 1 · Title 4 · Part 2 · Ch. 1

Statute text

The following transactions are exempted from the provisions of Section 25130:

(a)Any offer or sale of a security by the bona fide owner thereof for his or her own account if the sale (1) is not accompanied by the publication of any advertisement and (2) is not effected by or through a broker-dealer in a public offering.

(b)Any offer or sale effected by or through a licensed broker-dealer pursuant to an unsolicited order or offer to buy. For the purpose of this subdivision, an inquiry regarding a written bid for a security or a written solicitation of an offer to sell a security made by another broker-dealer within the previous 60 days shall not be considered the solicitation of an order or offer to buy.

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Legislative history

Amended by Stats. 1993, Ch. 193, Sec. 2. Effective July 26, 1993.