BILL NUMBER: AB 129 AMENDED BILL TEXT AMENDED IN ASSEMBLY JANUARY 23, 2014 AMENDED IN ASSEMBLY JANUARY 7, 2014 AMENDED IN ASSEMBLY MARCH 19, 2013 INTRODUCED BY Assembly Member Dickinson JANUARY 15, 2013 An act to amend Section 107 of the Corporations Code, relating to business associations. LEGISLATIVE COUNSEL'S DIGEST AB 129, as amended, Dickinson. Lawful money: alternative currency. 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 instead prohibit a person from issuing or putting in circulation, as money, anything but the lawful money of the United States. This bill would specify thatthose provisions doprovision does not prohibit acorporation, flexible purpose corporation, association, or individualperson from issuing or using an alternative currency that is redeemable for lawful money of the United States or that has value based on the value of lawful money of the United States . This bill would alsospecify that a corporation, flexible purpose corporation, association, or individual shall not beprohibit a person from being required to accept alternative currency. 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 107 of the Corporations Code is amended to read: 107. Acorporation, flexible purpose corporation, association, or individualperson shall not issue or put in circulation, as money, anything but the lawful money of the United States. Nothing in this section shall prohibit the issuance and use of alternative currency that is redeemable for lawful money of the United States or that has value based on the value of lawful money of the United States but acorporation, flexible purpose corporation, association, or individualperson shall not be required to accept alternative currency.