§ 107 Lawful Money Requirement

Corporations Code·California

AI SummaryVerified

This law says you can't make or use your own money. Only real U.S. money is allowed.

Key Takeaways

•You can't create your own money.
•Only official U.S. money (like dollars and coins) can be used to buy things.
•Using fake or homemade money is against the law.

Example

If you try to pay for groceries with homemade coins or fake dollars

The store can call the police because you're breaking the law by not using real U.S. money.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 107 Lawful Money Requirement

No corporation, social purpose corporation, association, or individual shall issue or put in circulation, as money, anything but the lawful money of the United States. (Amended by Stats. 2014, Ch. 694, Sec. 1. (SB 1301) Effective January 1, 2015.)

Last verified: January 10, 2026

Key Terms

lawful money of the United States issue or put in circulation corporation social purpose corporation association individual

References

Official text at leginfo.legislature.ca.gov
California Legislature. Corporations Code. Section 107.

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Key Terms

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Key Takeaways

Example

Key Terms

Related Statutes

References