SECTIONS 29560-29567 - California Statutes

CORPORATIONS CODE

SECTION 29560-29567

29560. 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 written interpretive 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written interpretive opinion may later be amended or rescinded or be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.

29561. The commissioner may from time to time make, amend, and
rescind the rules, forms, and orders that are necessary to carry out
this law, and define any terms, whether or not used in this law,
insofar as the definitions are not inconsistent with this law. For
the purpose of rules, the commissioner may classify commodities,
commodity contracts, commodity options, and persons within the
commissioner's jurisdiction and may prescribe different requirements
for different classes. The commissioner may, in the commissioner's
discretion, waive any requirement of any rule or form in situations
where in his or her opinion the requirement is not necessary in the
public interest.

29562. In any proceeding under this law, the burden of proving an
exemption or an exception from a definition is upon the person
claiming it.

29563. Every final order, decision, certificate, registration, or
other official act of the commissioner is subject to judicial review
in accordance with law.

29564. Nothing in this law, shall impair, derogate, or otherwise
affect the authority or powers of the commissioner under the
Corporate Securities Law of 1968 (Part 3 (commencing with Section
25000)) or the application of any provision thereof to any person or
transaction subject thereto.

29565. 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 this law is declared to be severable.

29566. Neither the commissioner nor any employee of the
commissioner shall use any information which is filed with or
obtained by the commissioner which is not public information for
personal gain or benefit, nor shall the commissioner nor any employee
of the commissioner engage in any securities or commodity
transaction based on that information, even though public, if there
has not been a sufficient period of time for the securities or
commodity markets to assimilate that information.

29567. (a) The program established by this division shall be
supported from funds appropriated by the Legislature from the State
Corporations Fund.
(b) The funds appropriated from the State Corporations Fund and
made available for expenditure under subdivision (a) of this section
shall come from securities application filing fees collected under
subdivisions (e), (f), (h), and (i) of Section 25608 of the
Corporations Code.