Cal. Code Regs. tit. 10, § 260.140.81 – Prohibition on Promotional Shares. | Midpage

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California Code of Regulations

Subchapter 2. Corporate Securities

Article 4. Standards for the Exercise of the Commissioner's Authority

Subarticle 8. Investment Companies

§ 260.140.81

Cal. Code Regs. tit. 10, § 260.140.81

Prohibition on Promotional Shares.

State of California

No promotional shares, as defined in Section 260.140.30 of these rules, shall be issued in connection with the sale of securities of an investment company.