{"code":"BPC","codeName":"Business and Professions Code","section":"19904","citation":"Bus. & Prof. Code, § 19904","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 8. SPECIAL BUSINESS REGULATIONS [18400. - 22949.92.2.]","url":"https://blackletter.si/business-and-professions-code/division-8"},{"name":"CHAPTER 5. The Gambling Control Act [19800. - 19987.]","url":"https://blackletter.si/business-and-professions-code/division-8/chapter-5"},{"name":"ARTICLE 7. Restrictions on Certain Transactions [19900. - 19906.]","url":"https://blackletter.si/business-and-professions-code/division-8/chapter-5/article-7"}],"history":"Amended by Stats. 2023, Ch. 302, Sec. 6.   (AB 1271)   Effective January 1, 2024.","effective":"2024-01-01","html":"<p>The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnership or sole proprietor that holds a gambling license, or the grant of an option to purchase that interest or security, is void unless approved in advance by the commission.</p>","text":"The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnership or sole proprietor that holds a gambling license, or the grant of an option to purchase that interest or security, is void unless approved in advance by the commission.","otherVersions":[],"url":"https://blackletter.si/business-and-professions-code/restrictions-on-certain-transactions-19904","source":"California Legislative Information bulk export (pubinfo)"}