Cal. CORP § 25302
This is the official text of Cal. CORP § 25302, part of California’s Corporations Code — governs the formation and operation of corporations, LLCs, and partnerships, and regulates securities.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Official statutory text
(a) A person shall not publish any advertisement concerning any security in this state after the commissioner finds that the advertisement contains any statement that is false or misleading or omits to make any statement necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading and so notifies the person in writing. This notification may be given summarily without notice or hearing. At any time after the issuance of a notification under this section, the person desiring to use the advertisement may in writing request that the order be rescinded. Upon the receipt of the written request, the matter shall be set for hearing to commence within 15 business days after receipt unless the person making the request consents to a later date. After the hearing, which shall be conducted in accordance with the provisions of the Administrative Procedure Act (Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code), the commissioner shall determine whether to affirm and continue or to rescind the order, and the commissioner shall have all the powers granted under the act.
(b) This section does not apply to any advertisement for any security which is subject to the supervision, regulation or examination of any of the following:
(1) The Insurance Commissioner.
(2) The Commissioner of Financial Protection and Innovation.
(3) The Public Utilities Commission.
(4) The Comptroller of the Currency of the United States.
(5) The Federal Deposit Insurance Corporation.
(6) The Board of Governors of the Federal Reserve System.
(b) This section does not apply to any advertisement for any security which is subject to the supervision, regulation or examination of any of the following:
(1) The Insurance Commissioner.
(2) The Commissioner of Financial Protection and Innovation.
(3) The Public Utilities Commission.
(4) The Comptroller of the Currency of the United States.
(5) The Federal Deposit Insurance Corporation.
(6) The Board of Governors of the Federal Reserve System.
Status: in_force · Read it on the official government site
Dealing with a business matter in California?
See all California Business lawyers
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.