Corp. Code, § 25401 · Part 5. FRAUDULENT AND PROHIBITED PRACTICES
Corp. Code, § 25401
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
It is unlawful for any person to offer or sell a security in this state, or to buy or offer to buy a security in this state, by means of any written or oral communication that includes an untrue statement of a material fact or omits to state a material fact necessary to make the statements made, in the light of the circumstances under which the statements were made, not misleading.
Notes and commentary — not statutory text
History
Amended by Stats. 2015, Ch. 190, Sec. 19. (AB 1517) Effective January 1, 2016.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CORP§ionNum=25401.
- Text hash
- sha256 78297b5da770ee8387d5c6b1ddbd152aa655176388e5e18e832c29102949ef9b
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Cited by 6 provisions
Provisions in this library whose text cites Corp. Code, § 25401. Each shows the citation as that text prints it.
Corporations Code
- Corp. Code, § 25102Printed as Section 25401
- Corp. Code, § 25501Printed as Section 25401
- Corp. Code, § 25504.1Printed as Section 25110, 25120, 25130, 25133, or 25401
- Corp. Code, § 25530.1Printed as Section 25401
- Corp. Code, § 25532Printed as Section 25401
- Corp. Code, § 25540Printed as Section 25400, 25401, or 25402
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.