republic-os/legislation/us/states/ca/20132014/sb-538.md

---
type: "Bill"
title: "The Corporate Securities Law of 1968."
description: "(1) The Corporate Securities Law of 1968 provides for the regulation of the issuance of corporate securities. The law requires an offer or sale of a security that is exempt from registration under the federal Securities Act of 1933 to meet specified requirements, including filing a notice with the Commissioner of Corporations. Commencing on July 1, 2013, various duties of the Commission of Corporations under this law are transferred to the Commissioner of Business Oversight."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20132014"
identifier: "SB 538"
citation: "California SB 538 (20132014)"
classification: ["bill"]
subjects: ["The Corporate Securities Law of 1968."]
status: "enacted"
primary_sponsors: ["Hill"]
version_count: 5
action_count: 22
vote_count: 6
first_action: "2013-02-22"
last_action: "2013-09-23"
source: "openstates"
source_identifier: "ocd-bill/0951e781-68bd-4e98-bb33-f1f030e78ee6"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140SB538"
source_hash: "8f8e76d30f7b767cdf79ace5d5b6c07652497616f346c1e2b926f35273fa9256"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---

# California SB 538 (20132014) — The Corporate Securities Law of 1968.

(1) The Corporate Securities Law of 1968 provides for the regulation of the issuance of corporate securities. The law requires an offer or sale of a security that is exempt from registration under the federal Securities Act of 1933 to meet specified requirements, including filing a notice with the Commissioner of Corporations. Commencing on July 1, 2013, various duties of the Commission of Corporations under this law are transferred to the Commissioner of Business Oversight.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **02/22/13 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140SB538&version=20130SB53899INT)
2. **04/01/13 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140SB538&version=20130SB53898AMD)
3. **09/23/13 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140SB538&version=20130SB53896CHP)
4. **SB538** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201320140SB538)
5. **09/06/13 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201320140SB538&version=20130SB53897ENR)

## Votes

- Do pass. — **5–1** (pass) · upper
- SB 538 Hill Senate Third Reading By CHAU — **68–1** (pass) · lower
- Do pass and be re-referred to the Committee on Appropriations. — **9–1** (pass) · lower
- Do pass. — **13–0** (pass) · lower
- 3rd Reading — **27–6** (pass) · upper
- Do pass, but re-refer to the Committee on Appropriations. — **8–0** (pass) · upper

## Sponsors

- Hill — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2013-02-22** Introduced. To Com. on RLS. for assignment. To print. `introduction`
- **2013-02-23** From printer. May be acted upon on or after March 25.
- **2013-02-25** Read first time. `reading-1`
- **2013-03-11** Referred to Com. on B. & F.I. `referral-committee`
- **2013-03-12** Set for hearing April 3.
- **2013-04-01** From committee with author's amendments. Read second time and amended. Re-referred to Com. on B. & F.I. `committee-passage, amendment-passage, reading-2, reading-1, referral-committee`
- **2013-04-03** From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 0. Page 404.) (April 3). Re-referred to Com. on APPR. `committee-passage-favorable, referral-committee, committee-passage`
- **2013-04-05** Set for hearing April 15.
- **2013-04-15** From committee: Do pass. (Ayes 5. Noes 1. Page 534.) (April 15). `committee-passage-favorable, committee-passage`
- **2013-04-16** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2013-04-25** Read third time. Passed. (Ayes 27. Noes 6. Page 674.) Ordered to the Assembly. `reading-3, reading-1, passage`
- **2013-04-25** In Assembly. Read first time. Held at Desk. `reading-1`
- **2013-06-03** Referred to Com. on B. & F. `referral-committee`
- **2013-06-11** From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 1.) (June 10). Re-referred to Com. on APPR. `committee-passage-favorable, referral-committee, committee-passage`
- **2013-07-03** Set, first hearing. Referred to APPR. suspense file. `referral-committee`
- **2013-08-30** From committee: Do pass. (Ayes 13. Noes 0.) (August 30). `committee-passage-favorable, committee-passage`
- **2013-09-03** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2013-09-04** Read third time. Passed. (Ayes 68. Noes 1. Page 2877.) Ordered to the Senate. `reading-3, reading-1, passage`
- **2013-09-05** In Senate. Ordered to engrossing and enrolling.
- **2013-09-10** Enrolled and presented to the Governor at 4 p.m.
- **2013-09-23** Approved by the Governor. `executive-signature`
- **2013-09-23** Chaptered by Secretary of State. Chapter 335, Statutes of 2013.

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/0951e781-68bd-4e98-bb33-f1f030e78ee6`. Confidence: reported (aggregated from official California legislature records).