Section 6144.1 - Proceeds from sale or lease of real property(a) The net proceeds from the sale of real property, after payment of obligations and encumbrances and reasonable costs of acquiring and relocating its facilities, if any, shall be held by the State Bar without expenditure or commitment for any purpose until approved by the Legislature by statute. The net proceeds from the lease of real property, after payment of obligations and encumbrances and reasonable costs of acquiring and relocating its facilities, if any, shall be used by the State Bar for the protection of the public.(b) Notwithstanding subdivision (a), the net proceeds from the sale of the State Bar's San Francisco office building, after payment of obligations and encumbrances and the minimally reasonable costs of acquiring and relocating its facilities, if any, may be utilized by the State Bar to cover employee salaries, and to cover operational costs associated with the State Bar's discipline system and administration of the biannual admissions exam.(c) All proceeds expended not consistent with subdivision (b) shall be held by the State Bar without expenditure or commitment for any purpose until approved by the Legislature by statute.Ca. Bus. and Prof. Code § 6144.1
Amended by Stats 2023 ch 697 (SB 40),s 29, eff. 1/1/2024.Amended by Stats 2022 ch 419 (AB 2958),s 11, eff. 9/18/2022.Amended by Stats 2017 ch 422 (SB 36),s 35, eff. 1/1/2018.Added by Stats 2014 ch 429 (AB 2746),s 5, eff. 1/1/2015.