To embed, copy and paste the code into your website or blog: California's Corporate Securities Law of 1968 makes offers it unlawful for any person to offer or sell a security in any nonissuer transaction unless it is qualified or exempt (or not subject to) qualification. Cal. Corp. Code § 25130. Transaction exempt from this requirement can be found in Section 25104 and securities not subject to this requirement can be found in Section 25100.1. The Commissioner has also exempted by rule any offer or sale of a security issued by any corporation organized under the laws of a foreign country or a certificate of deposit, receipt or other evidence relating to such security provided that one of several conditions is met. Because