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    Another Foolish Inconsistency - This Time For Broker-Dealers

    Yesterday's post chided Glass, Lewis & Co., LLC for its inconsistent positions on majority rule.  Today's post tackles a foolish inconsistency in the California Codes.  Section 25217(c) of the California Corporations Code provides:

    broker-dealer, Broker-Dealers, Cal. Const. Art. XV, Finance Lender, Finance Lenders, Finance Lenders Law, In re Stephan, personal property broker, Section 22050, Section 25217

    Must A Broker-Dealer Be Licensed As A Personal Property Broker?

    Is your California securities broker-dealer a licensed personal property broker?  Does it need to have such a license to make loans to its customers?  Anyone reading California Corporations Code Section 25217(c) would conclude that it must:

    broker-dealer, Broker-Dealers, Financial Code, Financial Code Section 17000, Finance Lenders Law, personal property broker, Section 22050, Section 25217, Section 22000, Section 25211

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