§ 25122 Securities Permit Qualification

Corporations Code·California

AI SummaryVerified

This law says a security only becomes officially approved when the commissioner gives a permit that allows it to be issued.

Key Takeaways

•A security isn’t qualified until the commissioner issues a permit.
•The permit specifically authorizes the issuance of the security.
•Without the permit, the security cannot be legally sold.

Example

A new tech startup wants to sell shares to raise money.

The startup must first get a permit from the commissioner; only after that permit is issued can the shares be legally sold to investors.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 25122 Securities Permit Qualification

Qualification of securities under this chapter becomes effective upon the commissioner issuing a permit authorizing the issuance of such securities. (Added by Stats. 1968, Ch. 88.)

Last verified: January 10, 2026

Key Terms

qualification of securities permit issuance of securities

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 25122.

Key Takeaways

Example

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Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References