In April, I kvetched about numerous outdated references in the California Corporations Code. For example, several provisions of the Code continue to refer to the “Internal Revenue Code of 1954” more than three decades after the enactment of the Internal Revenue Code of 1986. Other sections refer to federal agencies and laws that no longer exist. I am pleased to report that my plaints may soon be answered. Earlier this week when SB 363 was amended to correct these errors.
I was a bit puzzled by the provenance of these amendments, however. The bill states that it was introduced by the “Committee on Insurance, Banking and Financial Institutions”. I was familiar with the Senate’s separate committees on Insurance on Banking and Financial Institutions, but not a combined committee. After some digging, I learned that as of May 18, 2017 the Senate had merged these two committees and rechristened the surviving entity as the Senate Standing Committee on Insurance, Banking and Financial Institutions.