California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2 - Corporate Securities
Article 2 - Exemptions from Qualification
Section 260.103.2 - Stock Split

A "stock split" or "reverse stock split," as used in subdivision (f) of Section 25103 of the Code means the subdivision or combination of previously outstanding shares of stock (whether or not including authorized and unissued shares) into a greater or lesser number of shares of the same class, effected by an amendment to the charter documents of the issuer. A stock split may or may not be accompanied by the transfer of surplus to stated capital pursuant to a simultaneous change in the par value of the shares as constituted after the stock split or pursuant to resolution of the board of directors or shareholders.

1. Editorial correction adding NOTE filed 3-9-83 (Register 83, No. 11).
2. Amendment filed 8-7-85; effective thirtieth day thereafter (Register 85, No. 32).

Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25103, Corporations Code.