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Legislature Proposes Cleaning Up California Business Statutes

California has thousands of statutes on the books.  Over the years many have become outdated, referring to laws, agencies and office titles that no longer exist.  For the public, this can be very frustrating as it is not always clear whether there is a successor law, agency or office.  Recently, the California Senate Banking and Financial Institutions Committee introduced a bill, SB 251, that would clean up many of these technical problems.  There isn't any glamour in a bill like this, but it may help alleviate irritation.

Below are the statutes that SB 251 would correct and update:

  • Sections 7502.1, 7522, 7582.2, 7742, 10131.3, 10166.07, 10177, 10232.4, 10239, 11000.1, 11243, 17537.2, and 20009 of the Business and Professions Code,
  • Sections 1770, 1916.5, 2924, and 2953 of the Civil Code,
  • Sections 336a and 580e of the Code of Civil Procedure,
  • Section 9201 of the Commercial Code
  • Sections 191, 500, 1001, 1300, 1502.1, 2011, 2117.1, 7813.5, 8011.5, 8723, 12504, 12532, 12662, 13205, 13406, 13408.5, 14312, 15911.21, 17707.07, 17711.02, 25004, 25014.6, 25023, 25100, 25102, 25102.1, 25118, 25217, 25300, 25606, 25612.3, 28505, 28715, and 31115 of the Corporations Code,
  • Sections 818, 4970, 4995, 7273, 17303, 18027, 18339, and 18596 of the Financial Code,
  • Sections 1322, 6276.18, 7603, 12657, 12659, and 75030.5 of the Government Code,
  • Sections 760, 771, 828, 845, 845.5, 1192, and 1758.993 of the Insurance Code,
  • Section 186.9 of the Penal Code,
  • Sections 10200 and 11604.5 of the Probate Code, and Section 4734 of the Public Resources Code.
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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
Partner

Keith Paul Bishop is a partner in Allen Matkins' Corporate and Securities practice group, and works out of the Orange County office. He represents clients in a wide range of corporate transactions, including public and private securities offerings of debt and equity, mergers and acquisitions, proxy contests and tender offers, corporate governance matters and federal and state securities laws (including the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act), investment adviser, financial services regulation, and California administrative law. He regularly advises clients...

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