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HomeCorporations CodeCh. 4§ 25132 Qualification Effectiveness Period

§ 25132 Qualification Effectiveness Period

Corporations Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 25132 Qualification Effectiveness Period

This rule says a qualification (like a permission) lasts for 12 months unless a stop order is in place, and the commissioner can cancel or extend it.

Key Takeaways

  • •A qualification is good for 12 months from when it starts.
  • •If a stop order or a specific order is active, the qualification is not in effect.
  • •The commissioner can cancel a qualification or decide to give it extra time.

Example

A small business gets a qualification to sell a special product on Jan 1. It can keep selling for a year, but if the regulator issues a stop order in June, the qualification is paused until the order ends.

The business can operate for the full year unless the stop order stops it, and the commissioner could later decide to end the qualification early or give it more time.

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

Official Source
View on CA.gov

§ 25132 Qualification Effectiveness Period

Every qualification under this chapter and every qualification of a nonissuer transaction under Section 25111 is effective for 12 months from its effective date, except during the time a stop order under Section 25140 or an order under subdivision (a) of Section 25143 is in effect. A qualification under this chapter may be withdrawn only in the discretion of the commissioner. The commissioner may by rule or order extend the effective period of any qualification under this chapter. (Added by Stats. 1968, Ch. 88.)

Last verified: January 10, 2026

Key Terms

qualificationnonissuer transactionstop ordercommissioner

Related Statutes

  • § 25143 Postponement Or Suspension Of Qualifications
  • § 25130 Security Sale Qualification Rules
  • § 25131 Nonissuer Securities Qualification
  • § 25243 Broker-Dealer Misrepresentation Prohibition
  • § 25244 Surrender Revoked Certificates

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Corporations Code. Section 25132.
View Official Source