California · Corporations Code

CORP §404: Either in connection with the issue, subscription or sale of any of its shares, bonds, debentures, notes or other securities or independently thereof, a corporation may grant options to purchase or su

What this law says, in plain English

A corporation may grant options to purchase or subscribe to its shares, bonds, debentures, notes, or other securities in connection with their issuance or sale, or independently.

Read the full statutory text

Either in connection with the issue, subscription or sale of any of its shares, bonds, debentures, notes or other securities or independently thereof, a corporation may grant options to purchase or subscribe for shares of any class or series upon such terms and conditions as may be deemed expedient. Option rights may be transferable or nontransferable and separable or inseparable from other securities of the corporation.

Verify at the official source: California legislative text

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