Cal. Code Regs. tit. 10 § 260.105.39

Current through Register 2024 Notice Reg. No. 44, November 1, 2024

Section 260.105.39 - Resales of Units in Unit Investment Trusts

There is hereby exempted from the provisions of section 25110 and section 25130 of the Code as not being comprehended within the purposes of the Corporate Securities Law of 1968 ("Law") and the qualification of which is not necessary or appropriate in the public interest or for the protection of investors, any offer or sale of units in a unit investment trust by the sponsor of that trust or to or through a broker-dealer, if all of the following conditions are met:

(a)

(1) The offer and sale of the units was previously qualified under section 25111 of the Law and

(2) there has been no material change in the offering (see section 260.111.2 of these Rules);

(b) The units were repurchased by the broker-dealer or sponsor and are redeemable in accordance with the provisions of the Investment Company Act of 1940 (15 U.S.C. 80a-1 et seq.);

(c) The offer and sale is in accordance with the provisions of the Securities Act of 1933 (15 U.S.C. 77a et seq.) and the Investment Company Act of 1940; and

(d) The sponsor or the broker-dealer is a broker-dealer licensed under the Law.

Cal. Code Regs. Tit. 10, § 260.105.39

1. Amendment filed 7-13-70; effective thirtieth day thereafter (Register 70, No. 29).
2. Amendment filed 1-11-72; effective thirtieth day thereafter (Register 72, No. 3).

Note: Authority cited: Sections 25610 and 25612, Corporations Code. Reference: Sections 25102(c), 25110, 25111, 25112, 25113, 25115, 25120, 25121, 25160, 25162, 25608 and 25615, Corporations Code.

1. Amendment filed 7-13-70; effective thirtieth day thereafter (Register 70, No. 29).
2. Amendment filed 1-11-72; effective thirtieth day thereafter (Register 72, No. 3).