General Provisions of Capital Access Company Law

Corporations Code Title 4, Division 3, Chapter 1, Article 1 deals with construction of capital access companies under California securities laws.

Section 28000 provides the title of this division as the “Capital Access Company Law.”

Section 28001 requires this division to be liberally construed to accomplish its purposes.

Section 28002 states that the provisions of the Corporate Securities Law of 1968 apply to licensees.

Section 28003 contains give legislative findings.

Section 28004 specifies that the purpose of this division is to provide for the licensure and regulation of capital access companies that will provide risk capital and management assistance, primarily to small business firms in the state, to enable those companies to operate pursuant to the exemption from regulation under the federal Investment Company Act of 1940.

Article 2 deals with definitions for capital access companies under California securities laws. Section 28030 provides that the definitions in this article apply throughout this division.

Section 28031 defines the term “accredited investor.”

Section 28032 defines the term “affiliate.”

Section 28033 defines the term “commissioner.”

Section 28034 defines the term “company.”

Section 28035 defines the term “control.”

Section 28036 defines the term “controlling person.”

Section 28037 defines the term “insolvent.”

Section 28038 defines the term “license.”

Section 28039 defines the term “licensee.”

Section 28040 defines the term “officer.”

Section 28041 defines the term “order.”

Section 28042 defines the term “parent.”

Section 28043 defines the term “person.”

Section 28044 defines the term “principal security holder.”

Section 28045 defines the term “to provide financing assistance to a person.”

Section 28046 defines the term “security.”

Section 28047 defines the term “small business firm.”

Section 28047.1 defines the term “smaller business firm.”

Section 28048 defines the term “subsidiary.”

Section 28049 defines the term “voting power.”