Fin. Code, § 2088 · Chapter 5. Eligible Securities
Fin. Code, § 2088
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) The commissioner may by regulation or order declare a credit rating agency to be an eligible securities rating service if the commissioner finds the following with respect to the securities rating service:
(1) It has been continuously engaged in the business of rating securities for a period of not less than three years.
(2) It is competent to rate securities and is nationally recognized for rating securities in a competent manner.
(3) It publishes its ratings of securities on a nationwide basis.
(b) With respect to this division “eligible securities rating service” means any credit rating agency that the commissioner by regulation or order declared to be an eligible securities ratings service.
Notes and commentary — not statutory text
History
Amended by Stats. 2014, Ch. 499, Sec. 11. (AB 2209) Effective January 1, 2015.
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=FIN§ionNum=2088.
- Text hash
- sha256 8de7446239ad0153b998289c025f688d34f2ed0a744e492b5ee8ffaa6d1fc317
- 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
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.