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Promoters And California’s Limited Offering Exemption

I was admitted to the bar the same year that the legislature completed its parturition of a new limited offering exemption under the Corporate Securities Law of 1968 – California Corporations Code Section 25102(f).  AB 1518, Cal. Stats. 1981, ch. 1120.  Section 25102(f) exempts the offer and sale of securities from the issuer qualification requirement established by…

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You Might Be Surprised By Who Counts (And Who Doesn’t) In California

Many issuers continue to rely on California’s limited offering exemption to avoid the necessity of qualifying the offer and sale of their securities.  The exemption, found in Corporations Code Section 25102(f), requires that sales be made to not more than 35 persons.  Thus, it is important to know who counts and who doesn’t. Many out…

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