Section 5953.
5953. No local agency that consents to an offer or sale of a security that constitutes a fractional interest in a lease, installment sale, or other obligation of the local agency shall be required to review any proceedings relating to the creation of the security or any of the offering or placement memoranda or any […]
Section 5954.
5954. Any person who violates this chapter shall upon conviction be fined not more than ten million dollars ($10,000,000), or imprisoned pursuant to subdivision (h) of Section 1170 of the Penal Code for five years, or be punished by both that fine and imprisonment. (Amended by Stats. 2011, Ch. 15, Sec. 128. (AB 109) Effective […]
Section 5955.
5955. The obtaining of local agency consent to an offer or sale of a security under Section 5951 shall not obviate the necessity of qualification of the offer or sale of such security under Division 1 (commencing with Section 25000) of Title 4 of the Corporations Code, unless the security or transaction is exempt from […]
Section 5950.
5950. As used in this chapter: (a) “Accredited investor” has the meaning specified in Rule 501 of the Securities Act of 1933. (b) “In this state” has the meaning specified in Section 25008 of the Corporations Code. (c) “Issuer” has the meaning specified in Section 25010 of the Corporations Code. (d) “Issuer transaction” means any transaction directly or indirectly […]
Section 5951.
5951. It is unlawful for any person to offer or sell in an issuer transaction in this state, or otherwise knowingly to offer or sell in this state, any security constituting a fractional interest in a lease, installment sale, or other obligation of a local agency without obtaining the prior written consent of that local […]
Section 5952.
5952. Any consent granted by a local agency under Section 5951 shall be conclusively evidenced by a resolution of the governing body of the local agency, or by a written instrument executed on behalf of the local agency by its treasurer, chief financial officer, or purchasing agent, or by any other officer of the local […]