If the commissioner finds that any eligible security or class of eligible securities is not of sufficient liquidity or quality to be eligible securities, the commissioner may by regulation or order declare the security or class of securities to be ineligible.
Cal. Fin. Code § 2085
Eligible Securities
Known as the Money Transmission Act
The act spans §§ 2000–2176 (63 sections).
Added by Stats. 2011, Ch. 243, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.