Crimes And Civil Liability - Commodities - Corporations - CA

Section § 29550

This law outlines penalties for willfully breaking certain business regulations. Generally, violators face up to a $250,000 fine or up to one year in jail, or both. However, if someone can prove they didn't know a rule existed, they won't be jailed. For violations of Section 29536, the punishment can be more severe, with imprisonment ranging from two to four years, along with fines. Lastly, any collected fines are split, with half supporting the State Corporations Fund and the rest going to the prosecuting agency.

(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 Section 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 Section 1170 of the Penal Code for two, three, or four years, or be punished by both that fine and imprisonment.

(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.

willful violation penalties business regulation fines Section 29536 violations ...

Section § 29551

This section ensures that even if a particular state law doesn't cover certain criminal behavior, the state can still prosecute someone under other applicable laws for that same behavior.

Nothing in this law limits the power of the state to punish any person for any conduct which constitutes a crime under any other statute.

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Section § 29552

If someone helps another person break the rules set by this law or by the commissioner, they can be held just as responsible as the person who directly broke the law.

Any person who materially assists in any violation of this law, or any rule or order of the commissioner under this law, is jointly and severally liable with any other person liable under this law for the violation.

material assistance liability joint liability several liability ...

Section § 29553

You can't sue to enforce a liability related to a violation of Section 29552 if it's been over four years since it happened, unless you discovered the violation later. In that case, you have one year from the time you discovered the facts related to the violation to bring a lawsuit, whichever time period is longer.

No action shall be maintained to enforce any liability under Section 29552 unless brought before the expiration of four years after the act or transaction constituting the violation or within one year after the discovery by the plaintiff of the facts constituting the violation, whichever occurs last.

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Section § 29554

This law states that if someone involved in a legal case related to this law dies, the lawsuit doesn’t end. The case continues despite the death of any plaintiff (the person bringing the case) or defendant (the person being sued).

Every cause of action under this law survives the death of any person who might have been a plaintiff or defendant.

cause of action survival litigation continuation after death plaintiff ...

Section § 29555

This law section essentially states that unless specifically mentioned, breaking the rules in this law doesn't automatically make someone liable to another person in civil court. However, if there are other laws or common laws that would hold a person liable even without this law, those still apply.

Except as explicitly provided in this law, no civil liability in favor of any private party shall arise against any person by implication from, or as a result of, the violation of any provision of this law or any rule or order under this law. Nothing in this law shall limit any liability which may exist by virtue of any other statute or under common law if this law were not in effect.

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