2011 California Code
Probate Code
DIVISION 4. GUARDIANSHIP, CONSERVATORSHIP, AND OTHER PROTECTIVE PROCEEDINGS [1400 - 3925]
ARTICLE 7. Sales
Section 2544
(a) Except as specifically limited by order of the court, subject to Section 2541, the guardian or conservator may sell securities without authorization, confirmation, or direction of the court if any of the following conditions is satisfied:
(1) The securities are to be sold on an established stock or bond exchange.
(2) The securities to be sold are securities designated as a national market system security on an interdealer quotation system or subsystem thereof, by the National Association of Securities Dealers, Inc., sold through a broker-dealer registered under the Securities Exchange Act of 1934 during the regular course of business of the broker-dealer.
(3) The securities are to be directly redeemed by the issuer thereof.
(b) Section 2543 does not apply to sales under this section.
(Amended by Stats. 1996, Ch. 86, Sec. 2. Effective January 1, 1997.)
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