DIVISION 14. SECURITIES DEPOSITORIES [30000. - 30704.]
Division 14 added by Stats. 1972, Ch. 1057.
§§ 30000–30704 · 41 sections
CHAPTER 1. Application of This Division §§ 30000–30006 · 7 sections
- § 30000 This division is known and may be cited as the “Securities Depository Law.”
- § 30001 Unless the context otherwise requires, the definitions set forth in this chapter govern the construction of this division.
- § 30002 “Commissioner” means the Commissioner of Financial Protection and Innovation.
- § 30003 “Person” means, in addition to the singular, persons, group of persons, cooperative, association, company, firm, partnership, corporation, limited liability…
- § 30004 “Securities depository” means any person or group of persons who acts as the custodian of securities in accordance with a system for the central handling of…
- § 30005 This division does not apply to: (a) A securities depository which is operated by a corporation, all of the capital stock (other than directors’ qualifying…
- § 30006 The commissioner may establish such rules and regulations as are reasonable or necessary to carry out the purposes and provisions of this division. The…
CHAPTER 2. License §§ 30200–30218 · 19 sections
- § 30200 It shall be unlawful for any person to operate a securities depository within this state, or to solicit holders of securities within this state to place their…
- § 30201 A securities depository shall only be operated by a corportion: (a) At least 90 percent of the capital stock of which is held by or for one or more persons…
- § 30202 The commisioner shall charge and collect the following fees: (a) For filing an application for a securities depository license, two thousand five hundred…
- § 30203 All money received by the commissioner shall be paid by him or her into the State Treasury to the credit of the State Corporations Fund.
- § 30204 An application for a securities depository license shall be signed and verified by an authorized officer of the applicant, and shall set forth in such form as…
- § 30205 Upon the receipt of a proper and complete application for license, and all required fees, the commissioner shall immediately examine and investigate all facts…
- § 30206 The commissioner may refuse to issue any license being applied for, and shall refuse to issue any license being applied for if upon his examination and…
- § 30207 No licensee, or any other person, shall solicit deposits of securities or otherwise conduct the business of a licensee, by means of any statement or…
- § 30208 A securities depository license is not transferable or assignable. Further, no license may be acquired, either in whole or in part, through stock purchase or…
- § 30209 Any person who operates a securities depository, or solicits holders of securities within this state to place securities in a securities depository, either…
- § 30210 Every person subject to this division shall keep and use in its business, books, accounts, and records which will properly enable the commissioner to determine…
- § 30211 The business, accounts and records of every person licensed under this division are subject to inspection and examination by the commissioner at any time…
- § 30212 The actual cost of every inspection and examination shall be paid to the commissioner by the person examined and the commissioner may maintain an action for…
- § 30213 (a) Every person subject to this division shall submit to the commissioner, at such person’s own expense, financial statements prepared in accordance with…
- § 30214 If any person subject to this division fails to make any report required by law or by the commissioner, the commissioner shall immediately cause the books,…
- § 30215 If the commissioner, as a result of any examination or from any report made to him, shall find that any person subject to this division is in an insolvent…
- § 30216 Whenever in the opinion of the commissioner any person required by this division to be licensed is engaged in operating a securities depository or in…
- § 30217 The commissioner may from time to time make, amend, and rescind such rules, forms, and orders as are necessary to carry out the provisions of this law,…
- § 30218 (a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible…
CHAPTER 3. Revocation of License §§ 30600–30609 · 10 sections
- § 30600 A security depository license remains in effect until surrendered, revoked or suspended.
- § 30601 If the commissioner has reason to believe that a licensed securities depository has violated its articles of incorporation, or any law or rule binding upon it,…
- § 30602 If any licensed securities depository fails to make any report required by law or by the commissioner within 10 days from the day designated for the making of…
- § 30603 If it appears to the commissioner that any licensed securities depository located within this state is conducting business in an unsafe or injurious manner, he…
- § 30604 An order issued pursuant to Section 30601 or 30603 shall require the licensed securities depository to show cause before the commissioner, at a time fixed by…
- § 30605 The licensed securities depository has 10 days after an order is made final in which to commence action to restrain enforcement of such order, and unless such…
- § 30606 (a) If a securities depository fails to comply with a final order and has not secured a court order restraining the enforcement of the final order, the…
- § 30607 The commissioner may commence and prosecute actions and proceedings to enjoin violations of this division or violations of orders or decisions of the…
- § 30608 The commissioner may, after notice and a reasonable opportunity to be heard, suspend, revoke, or decline to renew any license if he finds that: (a) The…
- § 30609 (a) The commissioner may, after appropriate notice and opportunity for hearing, by order, censure or suspend for a period not exceeding 12 months, or bar from…
CHAPTER 4. Hearings §§ 30700–30704 · 5 sections
- § 30700 The commissioner, and all persons designated by him, may administer oaths, take the testimony of witnesses, and issue subpoenas requiring the attendance of…
- § 30701 All of the provisions of Chapter 2 (commencing with Section 1985), Title 3, Part 4 of the Code of Civil Procedure relating to the means of production of…
- § 30702 The authority to make or conduct any examination, investigation, or hearing, including the authority to administer oaths and to subpoena witnesses, and to take…
- § 30703 All hearings provided for in this division shall be conducted in accordance with the provisions of Chapter 5 (commencing with Section 11500), Part 1, Division…
- § 30704 Every order, decision, license or other official act of the commissioner is subject to review, in accordance with law.