Bill Text: CA AB1206 | 2013-2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: State agency funds: security for deposits.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-03 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB1206 Detail]

Download: California-2013-AB1206-Introduced.html

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BILL NUMBER: AB 1206	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Torres

                        FEBRUARY 22, 2013

   An act to amend Section 5003 of the Government Code, relating to
bonds.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1206, as introduced, Torres. Public bonds.
   Existing law regulates the issuance of public bonds and
obligations. Existing law provides for the registration of a public
bond, after which the principal and interest of the bond are payable
to the registered owner.
   This bill would make a technical, nonsubstantive change in these
provisions.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 5003 of the Government Code is amended to read:

   5003.  After  any   a  bond is
registered, the principal and interest of the bond are payable to the
registered owner.