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CORPORATIONS CODE - CORP <br />TITLE 4. SECURITIES \[25000 - 31516\] <br />( Title 4 added by Stats. 1949, Ch. 384. ) <br />DIVISION 1. CORPORATE SECURITIES LAW OF 1968 \[25000 - 25707\] <br />( Division 1 repealed and added by Stats. 1968, Ch. 88. ) <br />PART 1. DEFINITIONS \[25000 - 25023\] <br />( Part 1 added by Stats. 1968, Ch. 88. ) <br />CORPORATIONSCODE <br />SECTION <br />25004. <br />(a)“Broker-dealer”meansanypersonengagedinthebusinessofeffectingtransactionsinsecuritiesinthis <br />statefortheaccountofothersorforhisownaccount.“Broker-dealer”alsoincludes a personengagedinthe <br />regularbusinessofissuingorguaranteeingoptionswithregardtosecuritiesnotofhisownissue.“Broker- <br />dealer”doesnotincludeanyofthefollowing: <br />(1)Anyother issuer. <br />(2)Anagent,whenanemployeeof a broker-dealeror issuer. <br />(3)A bank,trustcompany,orsavingsandloanassociation. <br />(4)Anypersoninsofarashebuysorsells securities forhisown account,eitherindividuallyorinsome <br />fiduciarycapacity,butnotaspartof a regularbusiness. <br />(5)A personwhohasnoplaceofbusinessinthisstateifheeffectstransactionsinthisstateexclusivelywith <br />(A)the issuers ofthesecuritiesinvolvedinthetransactionsor(B)otherbroker-dealers. <br />(6)A brokerlicensedbytheRealEstateCommissionerofthisstatewhenengagedintransactionsin <br />securitiesexemptedbysubdivision(f)or(p)ofSection25100orinsecuritiestheissuanceofwhichis <br />subjecttoauthorizationbytheRealEstateCommissionerofthisstateorintransactionsexemptedby <br />subdivision(e)ofSection25102. <br />(7)AnexchangecertifiedbytheCommissionerofCorporationspursuanttothis section whenitisissuingor <br />guaranteeing options.Thecommissionermaybyordercertifyanexchangeunderthis section uponsuch <br />conditionsashebyruleororderdeemsappropriate,anduponnoticeandopportunitytobeheardhemay <br />suspendorrevoke such certification,ifhefindssuchcertification,suspension,orrevocationtobeinthe <br />publicinterestandnecessaryandappropriatefortheprotectionofinvestors. <br />(b)Forpurposesofthissection,anagentisanemployeeof a broker-dealerunderparagraph(2)of <br />subdivision(a)whentheagentisemployedbyorassociatedwiththebroker-dealerunderallofthefollowing <br />conditions: <br />(1)Theagentis subject tothesupervisionandcontrolofthebroker-dealer. <br />(2)Theagentperformsunderthename,authority,andmarketingpoliciesofthebroker-dealer. <br />(3)Theagentdisclosestoinvestorstheidentityofthebroker-dealer. <br />(4)Theagentisreportedpursuanttosubdivision(c)ofSection25210andtherulesadoptedthereunder. <br />(AmendedbyStats.2004,Ch.461,Sec.1.EffectiveJanuary1,2005.) <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 24 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />