BILL NUMBER: AB 2684	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Emmerson

                        FEBRUARY 19, 2010

   An act to amend Section 5800 of the Government Code, relating to
local securities.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2684, as introduced, Emmerson. Local securities: sales.
   Existing law regulates the sale of securities by local entities,
including cities, counties, and public districts. Existing law
defines "nonprofit corporation," in this regard, as a nonprofit
corporation that proposes to aid any public body by issuing
securities to finance public projects.
   This bill would make a nonsubstantive, technical 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 5800 of the Government Code is amended to read:

   5800.  As used in this chapter, "nonprofit corporation" means any
nonprofit corporation formed under the Corporations Code, or
otherwise, which proposes to aid any public body by issuing
securities to finance  any  one or more public
projects.