Cal. Code Regs. tit. 10 § 260.105.9
There is hereby exempted from the provisions of Section 25110 and Section 25120 of the Code as not being comprehended within the purposes of the Corporate Securities Law of 1968, and the qualification of which is not necessary or appropriate in the public interest or for the protection of investors, any offer or sale of beneficial interests in any voluntary inter vivos trust created solely for the purpose of voting, if such offer or sale is the result of a stock split or reverse stock split of the underlying securities which is exempted from the provisions of Section 25110 and Section 25120 of the Code by virtue of the provisions of Section 25103(f) of the Code, or of the issuance of underlying securities as a stock dividend which is not a sale as defined in Section 25017(f) of the Code. Any beneficial interests issued pursuant to the exemption provided by this Section shall be subject to any conditions imposed by the Commissioner applicable to beneficial interests previously issued with respect to the underlying securities which are the subject of such stock split, reverse stock split, or stock dividend.
Cal. Code Regs. Tit. 10, § 260.105.9
2. Amendment filed 3-20-78; effective thirtieth day thereafter (Register 78, No. 12).
3. Editorial correction adding NOTE filed 3-9-83 (Register 83, No. 11).
Note: Authority cited: Sections 25105 and 25610, Corporations Code. Reference: Sections 25017, 25103, 25105, 25110 and 25120, Corporations Code.
2. Amendment filed 3-20-78; effective thirtieth day thereafter (Register 78, No. 12).
3. Editorial correction adding NOTE filed 3-9-83 (Register 83, No. 11).