Securities: permits.

Existing law prohibits a bank organized under the laws of the state to offer or sell any security issued by it unless the Commissioner of Financial Institutions has issued a permit authorizing such sale. Existing law requires the commissioner to issue a permit authorizing an applicant to offer and sell securities, as specified, if the commissioner finds that the proposed sale of securities is fair, just, and equitable. This bill would make nonsubstantive changes to that latter provision.