A broker-dealer acting pursuant to a certificate which is then in effect and which is issued pursuant to Section 25211, shall be exempt from the usury provisions of the State Constitution. This section creates and authorizes a class of persons pursuant to Section 1 of Article XV of the Constitution.
Cal. Corp. Code § 25211.5
Licensing of Agents and Broker-Dealers
Known as the Corporate Securities Law
The act spans §§ 25000–25707 (201 sections).
Applied in 1 court decision — leading case 162 F. Supp. 3d 930 - Wishnev v. Northwestern Mutual Life Insurance (2016)
Most recently applied in 162 F. Supp. 3d 930 - Wishnev v. Northwestern Mutual Life Insurance (February 2016)
Added by Stats. 1983, Ch. 859, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.