For the purposes of this article: (a) âLocal agencyâ means a county, city, city and county, redevelopment agency, public district, joint powers authority, or public nonprofit corporation. (b) âSecuritiesâ means any bonds, notes, warrants, or other evidences of indebtedness and the interest coupons, if any, attached thereto, issued or proposed to be issued to finance or refinance a public project. (c) âIssuerâ means a local agency which issues securities. (d) âBrokerâ has the same meaning as âbroker-dealerâ as defined in Section 25004 of the Corporations Code. (e) âDealerâ has the same meaning as âbroker-dealerâ as defined in Section 25004 of the Corporations Code. (f) âMunicipal securities dealerâ means any person, including a separately identifiable department or division of a bank, trust company, or savings and loan association engaged in the business of buying and selling municipal securities for his or her own account, through a broker or otherwise, but does not include any of the following: (1) Any person insofar as he or she buys or sells those securities for his or her own account, either individually or in some fiduciary capacity, but not as a part of a regular business. (2) A bank, trust company, or savings and loan association, unless the bank, trust company, or savings and loan association is engaged in the business of buying and selling municipal securities for its own account other than in a fiduciary capacity, through a broker or otherwise, unless the bank, trust company or savings and loan association is engaged in that business through a separately identifiable department or division, in which case the department or division, and not the bank, trust company, or savings and loan association, is the municipal securities dealer.
‹ Prev All California sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.