California Corporations Code 29550 – (a) Except as provided in subdivision (b), any person who …
(a) Except as provided in subdivision (b), any person who willfully violates any provision of this law, or who willfully violates any rule or order under this law, shall upon conviction be fined not more than two hundred fifty thousand dollars ($250,000) or imprisoned pursuant to subdivision (h) of § 1170 of the Penal Code, or in a county jail for not more than one year, or be punished by both a fine and imprisonment; but no person may be imprisoned for the violation of any rule or order if that person proves that he or she had no knowledge of the rule or order.
(b) Any person who willfully violates Section 29536 shall upon conviction be fined not more than two hundred fifty thousand dollars ($250,000), or imprisoned pursuant to subdivision (h) of § 1170 of the Penal Code for two, three, or four years, or be punished by both that fine and imprisonment.
Terms Used In California Corporations Code 29550
- Conviction: A judgement of guilt against a criminal defendant.
- County: includes "city and county. See California Corporations Code 14
- Person: includes a corporation as well as a natural person. See California Corporations Code 18
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77
- this law: refer to the applicable provisions of this division unless the context otherwise requires. See California Corporations Code 29500
(c) One-half of the fines collected under this section shall be paid to the State Corporations Fund to be used for the support of this division. The remainder of the fines collected under this section shall be paid to the state or local agency which brought the criminal prosecution.
(Amended by Stats. 2011, Ch. 15, Sec. 52. (AB 109) Effective April 4, 2011. Operative October 1, 2011, by Sec. 636 of Ch. 15, as amended by Stats. 2011, Ch. 39, Sec. 68.)