§ 50.3001. Other Definitions.
10 CA ADC § 50.3001Barclays Official California Code of Regulations
10 CCR § 50.3001
§ 50.3001. Other Definitions.
In this Article:
(2) Any person who, in connection with the founding and organizing of the applicant, directly or indirectly receives in consideration of services or property, or both, 10% or more of any class of securities of the applicant or 10% or more of the proceeds from the sale of any class of such securities. However, any person who receives such securities or proceeds either solely as underwriting commissions or solely in consideration of property shall not be deemed to be a promoter if he does not otherwise take part in founding and organizing the applicant.
This database is current through 5/17/24 Register 2024, No. 20.
Cal. Admin. Code tit. 10, § 50.3001, 10 CA ADC § 50.3001
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