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AB-129 Lawful money.(2013-2014)

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AB129:v93#DOCUMENT

Assembly Bill No. 129
CHAPTER 74

An act to repeal Section 107 of the Corporations Code, relating to business associations.

[ Approved by Governor  June 28, 2014. Filed with Secretary of State  June 28, 2014. ]

LEGISLATIVE COUNSEL'S DIGEST


AB 129, Dickinson. Lawful money.
Existing law prohibits a corporation, flexible purpose corporation, association, or individual from issuing or putting in circulation, as money, anything but the lawful money of the United States.
This bill would repeal that provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 107 of the Corporations Code is repealed.