Financial Code section 5105.8

“Corporate debt security” means a marketable obligation, evidencing the indebtedness of any corporation in the form of a bond, note, or debenture, or both note and debenture, which is commonly regarded as a debt security and is not predominantly speculative in nature. A security is marketable if it may be sold with reasonable promptness at a price which corresponds reasonably to its fair value.

Source: Section 5105.8, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=5105.­8.­ (updated Jun. 21, 1984; accessed Jun. 16, 2025).

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Verified:
Jun. 16, 2025

§ 5105.8's source at ca​.gov