SECTIONS 25700-25707 - California Statutes

CORPORATIONS CODE

SECTION 25700-25707

25700. No provision of this law imposing any liability applies to
any act done or omitted in good faith in conformity with any rule,
form, permit, order, or written interpretive opinion of the
commissioner, or any such opinion of the Attorney General,
notwithstanding that the rule, form, permit, order, or written
interpretive opinion may later be amended or rescinded or be
determined by judicial or other authority to be invalid for any
reason.

25701. Any condition, stipulation or provision purporting to bind
any person acquiring any security to waive compliance with any
provision of this law or any rule or order hereunder is void.

25702. Whenever a person is entitled under this law to a hearing 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, a formal hearing before the
Department of Corporations may be substituted with the consent of
such person and of the commissioner for such hearing before an
independent hearing officer; and in that case after such hearing
before the Department of Corporations such person shall not be
entitled to any further administrative remedy.

25703. If any provision of this law or the application thereof to
any person or circumstance is held invalid, the invalidity shall not
affect other provisions or applications of this law which can be
given effect without the invalid provision or application, and to
this end the provisions of this law are declared to be severable.

25704. (a) Except as expressly provided in this section, prior law
exclusively governs all suits, actions, prosecutions or proceedings
which are pending or may be initiated on the basis of facts or
circumstances occurring before the effective date of this law.
(b) No civil suit or action may be maintained to enforce any
liability or to establish that any securities are void under prior
law unless brought within any period of limitation which applied when
the cause of action accrued and, in any event, within three years
after the effective date of this law.
(c) All effective permits, certificates, orders, consents, and
registrations under prior law, all administrative orders relating to
the same and all conditions imposed upon the same remain in effect so
long as they would have remained in effect if this law had not been
enacted. They are considered to have been filed, entered, or imposed
under this law, but are governed by prior law. Certificates dated as
of January 1, 1969, may be issued by the commissioner after the
effective date of this law pursuant to applications filed prior
thereto and shall be considered to have been issued under the prior
law. Applications for permits filed prior to January 1, 1969, may
subsequently be processed without amendment if they comply with prior
law, but thereafter shall be otherwise governed by this law.
(d) Judicial review of all administrative orders as to which
review proceedings have not been instituted by the effective date of
this law are governed by Section 25609, except that no review
proceeding may be instituted unless the petition is filed within any
period of limitation which applied to a review proceeding when the
order was entered.

25705. All references to "the Corporate Securities Law" in any code
or statute of the State of California shall hereafter be deemed to
be references to the Corporate Securities Law of 1968.

25706. (a) All effective permits, orders, and consents under the
Real Estate Syndicate Act, all administrative orders relating to the
Real Estate Syndicate Act, and all conditions imposed upon the Real
Estate Syndicate Act remain in effect so long as they would have
remained in effect if such act had not been repealed, but shall be
considered to have been filed, entered, or imposed under this law. An
application to amend, extend, modify, revoke, or set aside any such
permits, orders, or consents shall be filed under and be subject to
the provisions of this division.
(b) Any application pending under the Real Estate Syndicate Act,
upon the effective date of this section, shall be processed by the
Real Estate Commissioner pursuant to the provisions of the Real
Estate Syndicate Act in effect on December 31, 1977, until such
application is granted or denied by such commissioner.
(c) Except as expressly provided by this section, the Real Estate
Syndicate Act continues to govern all suits, actions, prosecutions,
or proceedings which are pending prior to, or which may be initiated
thereunder on the basis of facts or circumstances occurring prior to,
the effective date of this section.
(d) No civil suit or action may be maintained to enforce any
liability under the Real Estate Syndicate Act, unless brought within
any period of limitation which applied the time the cause of action
accrued.
(e) Judicial review of all administrative orders under the Real
Estate Syndicate Act as to which review proceedings have not been
commenced prior to the effective date of this section shall be
governed by Section 25609, except that no review proceeding may be
commenced unless the petition is filed within the applicable period
of limitation which applied to a review proceeding when the order was
issued and except that judicial review of administrative orders of
the Real Estate Commissioner made pursuant to subdivision (b) shall
be governed by the provisions of law applicable to such proceedings
on December 31, 1977.

25707. (a) All permits and orders issued under Article 6
(commencing with Section 10237) of Chapter 3 of Part 1 of Division 4
of the Business and Professions Code, and all conditions imposed
pursuant to those provisions, shall remain in effect for the period
of time that they would have remained in effect if those provisions
had not been repealed by the act enacting this section. Following the
repeal of those provisions, the permits, orders, and conditions
shall be deemed to have been issued or imposed under this division.
An application to amend, extend, modify, revoke, or set aside a
permit or order shall be filed under this division and is subject to
this division.
(b) An application pending under Article 6 (commencing with
Section 10237) of Chapter 3 of Part 1 of Division 4 of the Business
and Professions Code, on the effective date of this section, shall be
processed by the Real Estate Commissioner subject to those
provisions as they were in effect on December 31, 1996, until each
application that was pending on the effective date of this section is
granted or denied by the Real Estate Commissioner.
(c) Except as expressly provided by this section, all actions,
prosecutions, or proceedings under Article 6 (commencing with Section
10237) of Chapter 3 of Part 1 of Division 4 of the Business and
Professions Code that are pending prior to the effective date of this
section, or that otherwise could be initiated based on facts or
circumstances occurring prior to the effective date of this section,
shall be governed by those provisions.
(d) No civil action may be brought to enforce any liability under
Article 6 (commencing with Section 10237) of Chapter 3 of Part 1 of
Division 4 of the Business and Professions Code, unless it is brought
within the period of limitations that applied to the action at the
time the action accrued.
(e) Judicial review of orders under Article 6 (commencing with
Section 10237) of Chapter 3 of Part 1 of Division 4 of the Business
and Professions Code that had not commenced prior to the effective
date of this section shall be governed by Section 25609, except that
no review proceeding shall be commenced unless the petition is filed
within the applicable period of limitations that applied to a review
proceeding when the order was issued. Judicial review of an order of
the Real Estate Commissioner made pursuant to subdivision (b) shall
be governed by the provisions of law applicable to those proceedings
on December 31, 1996.