§ 25145 Issuer Securities Sales Records

• •Keep a complete set of books, records, and accounts for every qualified security sold.
• •Track and record how the proceeds from those sales are used.
• •File a report with the commissioner when the commissioner requires it, showing the securities sold, the money earned, and the disposition of that money.

A company sells investment certificates (securities) to residents of the state.

The company has to keep a full set of books showing each sale and exactly where the cash from those sales goes, and later file a report to the commissioner listing the securities sold, the money earned, and how that money was spent or invested.