Section 2544 Of Article 7. Sales From California Probate Code >> Division 4. >> Part 4. >> Chapter 6. >> Article 7.
2544
. (a) Except as specifically limited by order of the court,
subject to Section 2541, the guardian or conservator may sell
securities without authorization, confirmation, or direction of the
court if any of the following conditions is satisfied:
(1) The securities are to be sold on an established stock or bond
exchange.
(2) The securities to be sold are securities designated as a
national market system security on an interdealer quotation system or
subsystem thereof, by the National Association of Securities
Dealers, Inc., sold through a broker-dealer registered under the
Securities Exchange Act of 1934 during the regular course of business
of the broker-dealer.
(3) The securities are to be directly redeemed by the issuer
thereof.
(b) Section 2543 does not apply to sales under this section.