Cal. Code Regs. tit. 10 § 80.5302

Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 80.5302 - Ownership-Documented Nominee

For purposes of Financial Code Section 2084 and this Subchapter, "documented nominee," when used with respect to a licensee, means a partnership:

(a) The articles of partnership of which authorize it to engage in no business other than the business of owning, buying, selling, or otherwise transferring of record securities which are owned beneficially by the licensee;
(b) The partners of which include no persons other than the licensee and officers and employees of the licensee;
(c) Which is controlled by the licensee;
(d) Which is beneficially owned solely and exclusively by the licensee; and
(e) Which is shown by the records of the licensee to comply with the provisions of Subdivisions (a) to (d), inclusive, of this Section.

Cal. Code Regs. Tit. 10, § 80.5302

1. Amendment of first paragraph and NOTE filed 8-11-2015; operative 10-1-2015 (Register 2015, No. 33).

Note: Authority cited: Sections 321 and 334, Financial Code. Reference: Sections 2039 and 2084, Financial Code.

1. Amendment of first paragraph and Note filed 8-11-2015; operative 10/1/2015 (Register 2015, No. 33).