California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 5 — The Gambling Control ActArticle 7 — Restrictions on Certain TransactionsSection 19900
(a) Except as may be provided by regulation of the commission, the following security interests shall not be enforced without the prior approval of the commission and compliance with regulations adopted pursuant to subdivision (b):
(1) In a security issued by a corporation that is a holder of a gambling license in this state.
(2) In a security issued by a holding company that is not a publicly traded corporation.
(3) In a security issued by a partnership, limited partnership, or limited liability company that is a holder of a gambling license in this state.
(b) The commission shall adopt regulations establishing the procedure for the enforcement of a security interest. Any remedy provided by the regulations for the enforcement of the security interest is in addition to any other remedy provided by law.
Notes
Prohibits enforcement, except as commission regulations may provide, of specified security interests in securities issued by licensed gambling corporations, nonpublic holding companies, or licensed partnerships and limited liability companies without prior commission approval and regulatory compliance. Requires commission regulations establishing enforcement procedures and makes regulatory remedies additional to other remedies provided by law.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 19900 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-5/article-7/section-19900