You are here: California / Business and Professions Code - BPC / ARTICLE 6. Real Property Securities Dealers [10237. - 10238.8.] / Section 10237.25.

Section 10237.25. (Amended by Stats. 1982, Ch. 769, Sec. 1.)
Cite as: Cal. Bus. & Prof. Code §10237.25.

(a)Except as provided in subdivision (b), sale to pension, retirement or similar trust funds, to corporations, to institutional lending agencies, to real estate broker licensees, to general building contractor licensees, or to attorneys shall not be deemed a sale to the public for the purpose of this article.

(b)The sale to a self-employed individual retirement plan or individual retirement account shall be deemed not to be a sale to the public for the purpose of this article only if the plan or account is for the exclusive benefit of an individual who is a real estate broker licensee, general building contractor licensee, or attorney.

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