California Financial Code

§ 2088

FIN § 2088 Effective Jan 1, 2015Div. 1.2 · Ch. 5

Statute text

(a)The commissioner may by regulation or order declare a credit rating agency to be an eligible securities rating service if the commissioner finds the following with respect to the securities rating service:

(1)It has been continuously engaged in the business of rating securities for a period of not less than three years.

(2)It is competent to rate securities and is nationally recognized for rating securities in a competent manner.

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Legislative history

Amended by Stats. 2014, Ch. 499, Sec. 11. (AB 2209) Effective January 1, 2015.