California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2 - Corporate Securities
Article 6 - Other Provisions Concerning Exercise of the Commissioner's Authority
Section 260.151 - Request for Consent to Transfer Securities Subject to Legend or Escrow Condition
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
The consent to transfer required by Section 25133 of the Code may be requested pursuant to Section 25151 of the Code on the following form:
(a) Transferor statement form:
| (Department of Business Oversight Use Only) | Department of Business Oversight | ||
| File No. ___________________________ | |||
| Fee Paid $ ___________________________ | (Insert file no. of previous filings before the Dept. if any) | ||
| Receipt No. ___________________________ | FEE: $ ___________________________ | ||
| (To be completed by applicant. | |||
| The required fee is $20 per transfer (Sec. 25608(m), Corp. Code).) | |||
| Date of Application: | |||
| ___________________________ | |||
DEPARTMENT OF BUSINESS OVERSIGHT STATE OF CALIFORNIA
APPLICATION FOR CONSENT TO TRANSFER SECURITIES PURSUANT TO SECTION 25151 OF THE CORPORATE SECURITIES LAW OF 1968
This represents (check appropriate box):
[] The initial filing. [] An amendment to application dated __________
THE SECURITIES PROPOSED TO BE TRANSFERRED ARE SUBJECT TO (CHECK APPROPRIATE BOX)
| [] LEGEND CONDITION. | [] LEGEND CONDITION. |
___________________________
___________________________
| Name | Address | Aggregate number or amount of securities proposed to be transferred by each transferor: |
| _________________________________________________________________________________ | ||
| _________________________________________________________________________________ | ||
| _________________________________________________________________________________ | ||
| Total: ___________________________ | ||
| Name | Address | Aggregate number or amount of securities proposed to be transferred by each transferor: |
| _________________________________________________________________________________ | ||
| _________________________________________________________________________________ | ||
| _________________________________________________________________________________ | ||
| Total: ___________________________ | ||
| ____________________________________________________________________ | ||||
| (Number and Street) | (City) | (State) | (Zip Code) | |
___________________________
___________________________
[] (a) There are no restrictions upon the transfer of the securities proposed to be transferred other than the legend or escrow condition imposed by the Commissioner of Corporations.
[] (b) There are no restrictions upon the transfer of the securities proposed to be transferred other than the legend or escrow condition imposed by the Commissioner of Corporations which are described in an exhibit attached hereto and incorporated herein by reference. Such restrictions have been complied with as to make the transfer to the proposed transferees valid and are known to the proposed transferees.
___________________________
___________________________
If a transferor is other than an individual, the name of the entity should be typed or printed above the signature line exactly as shown in Item 3. The signature should show the name and title of the person authorized to sign for such transferor.
___________________________
I/We certify (or declare) under penalty of perjury under the laws of the State of California and I/We have read this application and know the contents thereof, and that the statements therein are true and correct.
Executed at ______________________________(Place), ____________________(Date), 20___.
(If the transferor is other than an individual, give the name of the entity and the name and title of the person executing the application on behalf of such entity.)
| ___________________________ | ___________________________ |
| (Signature of Transferor) | (Signature of Transferor) |
| ___________________________ | ___________________________ |
| (Signature of Transferor) | (Signature of Transferor) |
| ___________________________ | ___________________________ |
| (Signature of Transferor) | (Signature of Transferor) |
| ___________________________ | |
(b) Statement to be executed by each transferee:
TO THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA:
STATEMENT OF TRANSFEREE TO ACCOMPANY APPLICATION FOR CONSENT TO TRANSFER SECURITIES SUBJECT TO LEGEND OR ESCROW CONDITION
(If securities are to be received in pledge, so state.)
The undersigned intends to purchase* ______________________________(number) shares or units of ______________________________(Description of security, e.g., $10 common, Class A common) issued by ______________________________(Name of Issuer) from ______________________________ and makes the following statements:
| 1. | I have received from the issuer and/or the transferor a recent financial statement of the issuer and such additional information with respect to the issuer as I have deemed necessary to make an independent evaluation of the business prospects of the issuer and the fairness of the investment: (If answered in the negative, explain fully.) .......................... | [] Yes | [] No | |
| 2. | I am a director and/or an officer of issuer .......................... | [] Yes | [] No | |
| 3. | (a) I will actively participate in the operation of issuer's business and devote my full time or a substantial portion of my time thereto, with an opportunity to be fully aware of all of issuer's affairs .......................... | [] Yes | [] No | |
| (b) I will be compensated for such services .......................... | [] Yes | [] No | ||
| 4. | Are the securities being purchased promotional shares subject to waivers of assets and dividend? (See Sections 260.141 and 260.141.1 of the rules.) .......................... | [] Yes | [] No | |
| 5. | If the issuer is not a partnership and all parts of questions 2 and 3 above are answered in the negative, attach a separate signed statement elaborating on the items shown below: | |||
| (a) | The length of time officers and directors of issuer have been known, and the nature of prior business dealings with any officer or director of issuer or with the issuer. | |||
| (b) | Any prior investment experience in a business of similar size and nature. | |||
| (c) | Whether the amount of the proposed investment in issuer is in excess of 10% of either the net worth or the annual income of the transferee. | |||
| (d) | Whether the transferee has received advice from any attorney, accountant or other professional adviser independent of the issuer. | |||
| (e) | How transferee became aware of proposed investment. | |||
| 6. | If the issuer is a partnership, complete the following: | |||
| (a) | My annual income is in excess of $ __________. | |||
| (b) | My net worth (exclusive of my home, its furnishings and my automobiles) is in excess of $ __________. | |||
| 7. | (a) | I am acquiring the securities as record and beneficial owner .......................... | [] Yes | [] No |
| (b) | I am acquiring the securities as beneficial owner and not as record owner .......................... | [] Yes | [] No | |
| The record owner is ___________________________ | ||||
| (c) | I am acquiring the securities as record owner and have no beneficial interest therein .......................... | [] Yes | [] No | |
| The beneficial owner is ___________________________ . | ||||
*Include rights, warrants, and options and the securities to be transferred upon exercise thereof.
If the transferee is other than an individual, the name of the entity should be typed or printed beside the signature line exactly as shown in Item 4 of the Transferor's Application (Form 260.151). The signature should show the name and title of the person authorized to sign for the transferee.
I certify (or declare) under penalty of perjury under the laws of the State of California that I have read this Statement of Transferee and know the contents thereof, and that the statements therein are true and correct.
Executed at ______________________________(Place), ____________________(Date), 20 __________.
| ___________________________ | ___________________________ | |
| (Name of Entity) | (Signature of Transferee) | |
| ___________________________ | ||
| (Title) |
1. Amendment
filed 1-4-77; effective thirtieth day thereafter (Register 77, No. 2). For
prior history, see Register 75, No. 4.
2. Amendment refiled 1-7-77;
effective thirtieth day thereafter (Register 77, No. 2).
3.
Amendment filed 6-12-80; effective thirtieth day thereafter (Register 80, No.
24).
4. Editorial correction of form (Register 80, No.
30).
5. Amendment filed 2-2-83; effective thirtieth day thereafter
(Register 83, No. 6).
6. Amendment filed 10-26-84; effective
thirtieth day thereafter (Register 84, No. 43).
7. Change without
regulatory effect amending application form fee and numbers 7 and 9 of
transferor statement form filed 11-20-91 pursuant to section
100, title 1, California Code of
Regulations (Register 92, No. 9).
8. Change without regulatory
effect amending subsection (a) certification and subsection (b) certification
filed 9-25-2002 pursuant to section
100, title 1, California Code of
Regulations (Register 2002, No. 39).
9. Amendment of subsection (a)
filed 9-23-2009; operative 10-23-2009 (Register 2009, No. 39).
10.
Change without regulatory effect amending form filed 8-13-2014 pursuant to
section 100, title 1, California Code of
Regulations (Register 2014, No. 33).
Note: Authority cited: Section 25610, Corporations Code. Reference: Section 25151, Corporations Code.
