{"code":"INS","codeName":"Insurance Code","section":"822","citation":"Ins. Code, § 822","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1"},{"name":"PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1/part-2"},{"name":"CHAPTER 1. General Regulations [680. - 1113.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1"},{"name":"ARTICLE 8. Issue of Securities [820. - 860.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-1/article-8"}],"history":"Amended by Stats. 2025, Ch. 558, Sec. 1.   (AB 487)   Effective January 1, 2026.","effective":"2026-01-01","html":"<p>Except as otherwise provided by this article, “sale” or “sell” means every disposition, or attempt or arrangement to dispose, of a security or interest in a security for value, whether done by direct or indirect means. A security is conclusively presumed to be sold for value if given with any purchase of any nature or if given as a bonus on account of a purchase. “Sale” or “sell” shall also mean a contract of sale, an exchange, any change in the rights, preferences, privileges, or restrictions on outstanding securities, an attempt to sell, an option of sale, a solicitation of a sale, a subscription or an offer to sell directly or by a stock agent, or a circular letter, advertisement or otherwise.</p>","text":"Except as otherwise provided by this article, “sale” or “sell” means every disposition, or attempt or arrangement to dispose, of a security or interest in a security for value, whether done by direct or indirect means. A security is conclusively presumed to be sold for value if given with any purchase of any nature or if given as a bonus on account of a purchase. “Sale” or “sell” shall also mean a contract of sale, an exchange, any change in the rights, preferences, privileges, or restrictions on outstanding securities, an attempt to sell, an option of sale, a solicitation of a sale, a subscription or an offer to sell directly or by a stock agent, or a circular letter, advertisement or otherwise.","otherVersions":[],"url":"https://blackletter.si/insurance-code/issue-of-securities-822","source":"California Legislative Information bulk export (pubinfo)"}