Allen
Author
Existing law, the Corporate Securities Law of 1968, requires certain securities offered or sold in this state to be qualified through application filed with the Commissioner of Corporations, or to be exempt from the qualification requirements. Existing law exempts offers and sales of securities in specified transactions including, but not limited to, offers made to no more than 35 persons, excluding accredited investors, as defined by reference to Regulation D promulgated under the federal Securities Act of 1933, as amended, to include specified minimum net worth and income requirements for prospective investors. This bill would, until January 1, 2016, exempt from qualification offerings or sales of securities using a general solicitation or general advertising, provided the transaction meets specified requirements, including a requirement that the sales are made to accredited investors and the aggregate offering price of securities, as defined by reference to Regulation D, does not exceed $1,000,000, less the aggregate offering price for all securities sold within 12 months, as specified. This bill would incorporate additional changes in Section 25102 of the Corporations Code proposed by SB 978, that would become operative only if SB 978 and this bill are both chaptered and become effective on or before January 1, 2013, and this bill is chaptered last. This bill would declare that it is to take effect immediately as an urgency statute.
Read third time. Urgency clause refused adoption. (Ayes 11. Noes 25. Page 5093.)
Reconsideration granted. (Ayes 38. Noes 0. Page 5034.)
Motion to reconsider made by Senator Calderon.
Read third time. Refused passage. (Ayes 16. Noes 20. Page 5034.).
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time and amended. Ordered to third reading.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and be amended.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 3. Noes 2.) (August 15). Re-referred to Com. on APPR.
From committee: Do pass and re-refer to Com. on JUD. (Ayes 4. Noes 2.) (August 7). Re-referred to Com. on JUD.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.
In committee: Reconsideration granted.
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.
Joint Rule 62(a), file notice suspended. (Page 4316.)
In committee: Set, second hearing. Failed passage.
In committee: Set, first hearing. Hearing canceled at the request of author.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 4. Page 4925.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 17. Noes 0.) (May 16).
Joint Rule 62(a), file notice suspended. (Page 4547.)
From committee: Do pass and re-refer to Com. on APPR. (Ayes 7. Noes 1.) (April 26). Re-referred to Com. on APPR.
In committee: Set second hearing. Failed passage. Reconsideration granted.
In committee: Set, first hearing. Hearing canceled at the request of author.
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
From printer. May be heard in committee March 25.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2081 | HTML |
| 02/23/12 - Introduced | |
| 04/11/12 - Amended Assembly | |
| 07/06/12 - Amended Senate | |
| 08/06/12 - Amended Senate | |
| 08/21/12 - Amended Senate | |
| 08/24/12 - Amended Senate |
| Document | Format |
|---|---|
| No related documents. |
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