Cal. Fin. Code § 5103.5
Current through the 2023 Legislative Session.
"Commercial paper" means any note, draft, or bill of exchange which arises out of a current transaction or the proceeds of which have been or are to be used for current transactions, and which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited.
Ca. Fin. Code § 5103.5