(a) Neither (1) the fact that an application for qualification has been filed nor (2) the fact that an issue of bonds has been qualified constitutes a finding by the authority or commission that any document filed in connection with the qualification is true, complete, or not misleading. No such fact means that the commission has passed in any way upon the merits of or recommended or given approval to any issue of bonds except as provided in subdivision (d) of Section 91571.
(b) It is unlawful to make or cause to be made to any purchaser any representation inconsistent with subdivision (a).
(c) Every notification of qualification issued by the commission shall recite that the qualification is permissive only, and does not constitute a recommendation or endorsement of the bonds so qualified.
(Amended by Stats. 1982, Ch. 1605, Sec. 23.)
Last modified: October 25, 2018