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CALIFORNIA CORPORATE & SECURITIES LAW

Do Laws Have An Expiration Date?

Last week, I wrote about a bill, AB 129, currently pending in the California legislature that would amend California Corporations Code Section 107.  As I had pointed out in an even earlier post last May, that statute prohibits any corporation, flexible purpose corporation, association or individual from issuing or putting in circulation, as money, anything but the…

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Legislature Considers Allowing Alternative Currencies

Last March, I pointed out that Corporations Code Section 107 prohibits any 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 raised the question in my mind whether Bitcoin was money.  See Ever Wonder What Money Is? California Has…

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