Any person who makes or offers to make any contract constituting bucketing under Section 29008, or who makes any sale constituting bucketing under Section 29008, or who is the keeper of any bucket shop, is guilty of a felony.
Chapter 2Prohibited Activities
Section § 29100
This law states that if someone engages in or attempts to engage in contracts known as 'bucketing', or operates what is called a 'bucket shop', they are committing a serious crime classified as a felony.
bucket shop bucketing felony contracts illegal sales Section 29008 crime trading offers keepers business crime securities financial violation
Section § 29101
This law makes it a serious crime (a felony) for anyone to share or show stock or commodity price quotes if they're doing so with the intent to engage in, offer, or help others engage in illegal betting or bucketing schemes, as defined in another section of the law.
Any person who communicates, receives, exhibits, or displays in any manner any statement of quotations of prices of any securities or commodities, with an intent to make, or to offer to make, or to aid in making or offering to make, any contract constituting bucketing under Section 29008 is guilty of a felony.
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Section § 29102
If a corporation commits certain felonies, it can be fined between $1,000 and $10,000. If an individual commits these crimes, they can be fined the same amount, face jail time, or both.
The felonies specified in this chapter are punishable, for each offense, if the offender is a corporation, by a fine of not less than one thousand dollars ($1,000) nor more than ten thousand dollars ($10,000) or, if the offender is not a corporation, by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, or by a fine of not less than one thousand dollars ($1,000) nor more than ten thousand dollars ($10,000), or by both that imprisonment and fine.
corporate felony fines individual punishment criminal fines corporate penalties imprisonment criminal offense Subdivision (h) Section 1170 minimum fine $1 000 maximum fine $10 000 corporate crime penalties individual felons corporate offender non-corporate offender
Section § 29103
This law states that if a corporation is prosecuted, convicted, or punished, it doesn't automatically mean that its officers, directors, or shareholders will face the same legal actions. They are treated separately from the corporation itself in legal proceedings.
The prosecution, conviction, and punishment of a corporation under any provision of this chapter shall not be deemed to be a prosecution, conviction, or punishment of any of its officers, directors, or shareholders.
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Section § 29104
This law says that if two people make a deal to buy or sell stock, but neither really plans to exchange actual shares, and the deal is just about betting on stock price changes, then the contract is not valid. So, neither side can sue for damages, or get any money back if the deal isn't followed through in California.
All contracts for the purchase or sale of shares of the capital stock of any corporation or association without any intention on the part of one party to deliver and of the other party to receive the shares, and contemplating merely the payment of differences between the contract and market prices on divers days, shall be void, and neither party to any such contract shall be entitled to recover any damages for failure to perform the same, or any money paid thereon, in any court of this state.
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Section § 29105
This law makes it illegal for someone to change, destroy, hide, or falsify records or documents in order to interfere with the enforcement of the rules covered by this division. Also, it is illegal to lie to the commissioner with the intent to manipulate or block any process related to licensing, investigation, or examination under this division.
(a)CA Corporations Code § 29105(a) It is unlawful for any person to knowingly alter, destroy, mutilate, conceal, cover up, falsify, or make a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the administration or enforcement of this division.
(b)CA Corporations Code § 29105(b) It is unlawful for any person to knowingly make an untrue statement to the commissioner during the course of licensing, investigation, or examination, with the intent to impede, obstruct, or influence the administration or enforcement of any provision of this division.
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