Cal. Code Regs. tit. 10 § 260.104.2

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Section 260.104.2 - Bona Fide Secured Party

The phrase "bona fide secured party," as used in subdivision (e) of Section 25104 of the Code, does not include a secured party who takes securities in pledge without any intention or expectation that they will be redeemed but merely as a step in the distribution thereof to the public.

Cal. Code Regs. Tit. 10, § 260.104.2

1. Editorial correction adding NOTE filed 3-9-83 (Register 83, No. 11).

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25104, Corporations Code.

1. Editorial correction adding NOTE filed 3-9-83 (Register 83, No. 11).