California · Financial Code
FIN §1205: If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit authorizing it to offer and sell the securities in such amo
What this law says, in plain English
The commissioner may issue a permit allowing securities sales if the proposed sale meets fairness and equity standards.
Read the full statutory text
If the commissioner finds that the proposed sale of securities is fair, just, and equitable, he or she shall issue to the applicant a permit authorizing it to offer and sell the securities in such amount and upon such terms and conditions as he or she may provide in the permit. If the commissioner finds otherwise, he or she shall deny the application.
Verify at the official source: California legislative text
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