Jenny Oropeza
- Democratic
Author
Existing law provides that a discount buying organization is required to establish a trust account at a federally insured bank or savings and loan association for the deposit of contract payments, as specified. Existing law places certain restrictions on the ability of a discount buying organization to withdraw funds from this trust account. Existing law exempts an affiliate discount buying organization that meets certain requirements from these provisions, and specifies alternate trust account and trust funds withdrawal provisions for these affiliates. This bill would completely exempt an affiliate discount buying organization that operates under a parent in good standing, as defined, from all the requirements related to the establishment of or withdrawal of funds from a trust account.
No votes to display
From committee without further action.
Set, first hearing. Hearing canceled at the request of author.
Set for hearing April 27.
To Com. on JUD.
From print. May be acted upon on or after March 21.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB1151 | HTML |
| 02/18/10 - Introduced |
| Document | Format |
|---|---|
| No related documents. |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.