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HomePublic Utilities CodeDiv. 1Pt. 1Ch. 4Art. 5§ 822 Securities Exchange Approval

§ 822 Securities Exchange Approval

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

§ 822 Securities Exchange Approval

Key Takeaways

  • •The government can check if a company's plan to trade or sell stocks, bonds, or other investments is fair.
  • •If a company wants to swap old stocks or bonds for new ones, they need to ask the government first.
  • •People who will get the new stocks or bonds can go to a meeting to say if they think the deal is fair or not.
  • •The government will listen to everyone and then decide if the deal is okay.

Example

A company wants to give new stocks to people who have old stocks.

The company has to ask the government first. The government will have a meeting where everyone who gets the new stocks can say if they think it's a good deal. Then the government decides if it's fair.

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

Official Source
View on CA.gov

§ 822 Securities Exchange Approval

Pursuant to this part the commission may, upon an application for an order to issue stocks, bonds, debentures, notes, or other securities or to deliver other consideration in exchange for one or more bona fide outstanding stocks, bonds, debentures, notes, or other securities, claims or property interests, or partly in such exchange and partly for cash, approve the terms and conditions of such issuance and exchange or such delivery and exchange and the fairness of such terms and conditions, after a hearing upon the fairness thereof. All persons to whom it is proposed to issue stocks, bonds, debentures, notes or other securities or to deliver such other consideration in such exchange may appear at such hearing. (Amended by Stats. 1977, Ch. 235.)

Last verified: January 23, 2026

Key Terms

considerationcommissionpropertyclaimhearingsecuritiesstockthe california public

Related Statutes

  • § 819 Commission Securities Approval Authority
  • § 728 Utility Rate Regulation
  • § 795 Public Utility Depreciation Rates
  • § 818 Public Utility Securities Issuance
  • § 823 Utility Securities And Financing

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 822.
View Official Source