§ 25206. — 25206. (Amended by Stats. 2016, Ch. 50, Sec. 26.)

California § 25206.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Div.: 1.
• Title 4.: DIVISION 1. CORPORATE SECURITIES LAW OF 1968
• Part 3.: PART 3. REGULATION AND NOTICE FILING REQUIREMENTS OF AGENTS, BROKER-DEALERS, INVESTMENT ADVISER REPRESENTATIVES, AND INVESTMENT ADVISERS
• Ch. 1.: CHAPTER 1. Exemptions

Text

A broker licensed by the Real Estate Commissioner is exempt from the provisions of Section 25210 when engaged in transactions in any interest in any general or limited partnership, joint venture, unincorporated association, or similar organization (but not a corporation) owned beneficially by no more than 100 persons and formed for the sole purpose of, and engaged solely in, investment in or gain from an interest in real property, including, but not limited to, a sale, exchange, trade, or development. An interest held by spouses shall be considered held by one person for the purposes of this section.

Legislative History

Amended by Stats. 2016, Ch. 50, Sec. 26. (SB 1005) Effective January 1, 2017.