CHAPTER 13. Fractional Interest in Local Agency Obligations

Chapter 13 added by Stats. 1994, Ch. 972, Sec. 3.

§§ 5950–5955 · 6 sections

• § 5950 As used in this chapter: (a) “Accredited investor” has the meaning specified in Rule 501 of the Securities Act of 1933. (b) “In this state” has the meaning…
• § 5951 It is unlawful for any person to offer or sell in an issuer transaction in this state, or otherwise knowingly to offer or sell in this state, any security…
• § 5952 Any consent granted by a local agency under Section 5951 shall be conclusively evidenced by a resolution of the governing body of the local agency, or by a…
• § 5953 No local agency that consents to an offer or sale of a security that constitutes a fractional interest in a lease, installment sale, or other obligation of the…
• § 5954 Any person who violates this chapter shall upon conviction be fined not more than ten million dollars ($10,000,000), or imprisoned pursuant to subdivision (h)…
• § 5955 The obtaining of local agency consent to an offer or sale of a security under Section 5951 shall not obviate the necessity of qualification of the offer or…