If the commissioner finds that any security or class of securities that is not an eligible security is of sufficient liquidity and quality to be an eligible security, the commissioner may by regulation or order declare the security or class of securities to be eligible securities.
Cal. Fin. Code § 2086
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.