Ins. Code, § 821 · Article 8. Issue of Securities
Ins. Code, § 821
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
“Security” means every instrument commonly known by that term, except:
(a) Commercial paper when issued, given or acquired in a bona fide way in the ordinary course of legitimate business, trade or commerce.
(b) Promissory notes, whether secured or unsecured, if not offered to the public, and if not sold to an underwriter of the sale for the purpose of resale.
(c) Mortgage participation certificates issued under and in accordance with the provisions of Chapter 2, Part 6, Division 2.
(d) Policies of insurance issued by an insurer.
Notes and commentary — not statutory text
History
Enacted by Stats. 1935, Ch. 145.
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=INS§ionNum=821.
- Text hash
- sha256 d887b965742e2b0a77c35768d11fe0dd858c4e565ad20628bb1b48ed43a7e7e9
- 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 1 provision
Provisions in this library whose text cites Ins. Code, § 821. Each shows the citation as that text prints it.
Insurance Code
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.