California · Financial Code
FIN §2085: If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the commissioner may by regulation or order de
What this law says, in plain English
The commissioner may remove securities from eligible status through regulation or order if they lack sufficient liquidity or quality.
Read the full statutory text
If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the commissioner may by regulation or order declare the security or class of securities to be ineligible.
Verify at the official source: California legislative text
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