Section 824 Of Article 8. Issue Of Securities From California Insurance Code >> Division 1. >> Part 2. >> Chapter 1. >> Article 8.
824
. "Broker" means every person, other than an agent, who in this
state engages either wholly or in part in the business of (a) dealing
in any security issued by others, (b) underwriting any issue of such
securities, (c) purchasing such securities with the purpose of
reselling them, or (d) offering such securities for sale to the
public. No authority to act as a broker may be implied from an
appointment executed by an insurer appointing an agent of that
insurer.