California May No Longer Send Corporate Felons To Prison


The California legislature went into recess on July 15. Several bills that would amend the California Corporations Code await action when the legislators return on August 15. However, the legislature has already enacted and the Governor has signed a bill amending numerous provisions of the Corporations Code.

Numerous Corporations Code Sections Are Amended

AB 109 was introduced in January and included one section that provided in its entirety: “It is the intent of the Legislature to enact statutory changes relating to the Budget Act of 2011.” It was later amended so that it now amends, among numerous other codes, Sections 2255, 2256, 6811, 6814, 8812, 8815, 12672, 12675, 22002, 25540, 27202, 28880, 29102, 29550, 31410, 31411, and 35301 of the Corporations Code. Each of these sections criminalizes specified misconduct.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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