Business and Professions Code section 19904

The purported sale, assignment, transfer, pledge, or other disposition of any security issued by a corporation, membership interest of a limited liability company, or ownership interest of a partnership or sole proprietor that holds a gambling license, or the grant of an option to purchase that interest or security, is void unless approved in advance by the commission.

Source: Section 19904, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=BPC§ionNum=19904.­ (updated Jan. 1, 2024; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 19904's source at ca​.gov