California Code of Regulations
Title 10 - Investment
Chapter 1 - Commissioner of Business Oversight, Division of Financial Institutions
Subchapter 40 - Industrial Loans
Article 6 - Loans and Obligations Receivable
Section 40.614 - Definition of Term "Traded Securities" in Section 18208, Financial Code

Universal Citation: 10 CA Code of Regs 40.614
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

The term "traded securities" as used in Section 18208 of the Financial Code and in this Subchapter means a security which is either listed or admitted to trading on a national securities exchange or which has a substantial and active market and is subject to two-way quotations (i.e., both bid and asked prices) regularly published by one or more broker-dealers in the National Daily Quotation Service.

The term "traded securities" does not include stock which is subject to any restrictions on sale or transfer.

1. Change without regulatory effect renumbering and amending former section 1171 to new section 40.614 filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18208, Financial Code.

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