California Corporations Code

§ 25241

CORP § 25241 Effective Jan 1, 2004Div. 1 · Title 4 · Part 3 · Ch. 4

Statute text

(a)Every broker-dealer and every investment adviser licensed under Section 25230 shall make and keep accounts, correspondence, memorandums, papers, books, and other records and shall file financial and other reports as the commissioner by rule requires, subject to the limitations of Section 15(h) of the Securities Exchange Act of 1934 with respect to broker-dealers and Section 222 of the Investment Advisers Act of 1940 with respect to investment advisers.

(b)All records so required shall be preserved for the time specified in the rule.

(c)All records referred to in this section are subject at any time and from time to time to reasonable periodic, special, or other examinations by the commissioner, within or without this state, as the commissioner deems necessary or appropriate in the public interest or for the protection of investors.

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Legislative history

Amended by Stats. 2003, Ch. 473, Sec. 5. Effective January 1, 2004.