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California Law (Last Updated: March 4, 2014) |
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Corporations Code - CORP |
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Title 4. SECURITIES |
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Division 1. CORPORATE SECURITIES LAW OF 1968 |
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Part 2. QUALIFICATION OF AND FILING REQUIREMENTS FOR THE SALE OF SECURITIES |
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Chapter 1. Exemptions and Certain Securities and Transactions Not Subject to Qualification |
Section 25100.1.
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The following securities are not subject to Sections 25110, 25120, and 25130:
(a) A security defined as a "covered security" pursuant to Section 18(b)(1) of the Securities Act of 1933 (15 U.S.C. Sec. 77r).
(b) A security issued by an investment company that is registered or that has filed a registration statement under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1) and that is defined as a "covered security" pursuant to Section 18(b)(2) of the Securities Act of 1933, and all the following requirements are met:
(1) Prior to any offer or sale in this state, there is filed with or paid to the commissioner each of the following:
(A) A notice consisting of all documents that are part of a federal registration statement filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 or, in lieu thereof, a form prescribed by the commissioner, and that a consent to service of process is either on file with the commissioner or is attached to the notice.
(B) As necessary to compute fees, a report of the value of securities covered under this subdivision that are offered or sold in this state.
(C) The notice filing fee provided for in subdivision (a) of Section 25608.1.
(2) If any offer or sale is to be made pursuant to Section 18(b)(2) of the Securities Act of 1933 and this subdivision more than 12 months after the date the notice was filed under this subdivision, the issuer shall file another notice and pay the fee specified in subparagraph (C) of paragraph (1).