Section 5105.8 Of Article 2. General Definitions From California Financial Code >> Division 2. >> Chapter 1. >> Article 2.

. "Corporate debt security" means a marketable obligation, evidencing the indebtedness of any corporation in the form of a bond, note, or debenture, or both note and debenture, which is commonly regarded as a debt security and is not predominantly speculative in nature. A security is marketable if it may be sold with reasonable promptness at a price which corresponds reasonably to its fair value.