California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2 - Corporate Securities
Article 8 - Licensing of Broker-Dealers and Agents
Section 260.204.6 - Licensed Lenders
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
An exemption from the provisions of Section 25210 of the Code is hereby granted, as being necessary and appropriate in the public interest and for the protection of investors, to:
(a) Any person licensed as a finance lender under the California Finance Lenders Law (Division 9, commencing with Section 22000 of the Financial Code) when acting under the authority of that license, or licensed as an industrial loan company doing business under the Industrial Loan Law (Division 7, commencing with Section 18000 of the Financial Code), when engaged in transactions in a series of notes secured by interests in the same real property, or in undivided interests in a note secured by real property, pursuant to a qualification under Section 25110, Section 25120 or Section 25130 of the Code, or pursuant to the exemption contained in Section 25102(e) or Section 25102(i) of the Code, other than an offering which is made pursuant to a registration under the Securities Act of 1933 or a Regulation A exemption under that act (17 CFR 230.231 et. seq.).
(b) A person licensed as a business and industrial development corporation ("BIDCO") under the Business and Industrial Development Corporations Law (Division 15, commencing with Section 31000 of the Financial Code) when engaged in the sale of notes, and guarantees thereof by the United States Small Business Administration or other federal governmental agency, arising from loans to businesses in this state, made by a licensed BIDCO pursuant to the requirements of the Business and Industrial Development Corporation Law and regulations promulgated thereunder.
1. New
section filed 8-27-81 as an emergency; effective upon filing (Register 81, No.
37).
2. Order of Repeal of 8-27-81 emergency order filed 9-4-81 by
OAL pursuant to Government Code Section
11349.6
(Register 81, No. 37).
3. New section filed 6-24-82; effective
thirtieth day thereafter (Register 82, No. 26).
4. Amendment filed
1-10-85; effective thirtieth day thereafter (Register 85, No. 2).
5.
Amendment filed 1-31-91; operative 3-2-91 (Register 91, No. 8).
6.
Amendment filed 8-6-98; operative 9-5-98 (Register 98, No.
32).
Note: Authority cited: Sections 25204 and 25610, Corporations Code. Reference: Section 25204, Corporations Code.
