More Flexibility as to Instruments as Qualifying “In Lieu Of” Cash for Undertaking Purposes.
AB 1856 has been chaptered, amending Code of Civil Procedure sections 995.710, 995.720, 995.740, and 995.760—portions of California’s Bond and Undertaking Law. In essence, it allows casher’s checks and all bonds and notes of the United States or California to be used as deposits in lieu of cash, alternatives to bonding under California’s undertaking requirements. It was chaptered on September 4, 2014, so that we believe it becomes effective January 1, 2015—we saw nothing to indicate it was urgency legislation.