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:
Another Foolish Inconsistency - This Time For Broker-Dealers
Posted on December 08, 2017
Must A Broker-Dealer Be Licensed As A Personal Property Broker?
Posted on July 24, 2017
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: