California · Business and Professions Code - BPC
BPC §19904: The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnersh
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The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnership or sole proprietor that holds a gambling license, or the grant of an option to purchase that interest or security, is void unless approved in advance by the commission.
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