California § 5613 - No association shall sell, except upon a sale for a delinquent assessment made in
Full text of California Public Contract Code - PCC § 5613 — No association shall sell, except upon a sale for a delinquent assessment made in, with citation guidance and answers to common questions.
§ 5613. No association shall sell, except upon a sale for a delinquent assessment made in
(a) No association shall sell, except upon a sale for a delinquent assessment made in accordance with the provisions of the General Corporation Law, or offer for sale, or take subscriptions for, or issue any of its securities (except stock dividends), until the association has applied for and obtained from the commissioner a permit authorizing it to offer, sell or issue that security. (b) Notwithstanding subdivision (a), an association may enter into agreements for the sale of securities with accredited investors (as defined in Section 230. 215 of the Securities Exchange Commission regulations) or persons approved by the commissioner prior to obtaining a permit pursuant to subdivision (a). (c) The commissioner may, by regulation, instruction, or order exclude certain transactions from the operation of this section.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 5613
What does Public Contract Code - PCC § 5613 cover?
Section 5613 ("No association shall sell, except upon a sale for a delinquent assessment made in") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 5613?
A common citation format is "Public Contract Code - PCC § 5613" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 5613 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.