Upon receipt of approval and pursuant to Section 40709, a certificate evidencing all approved reductions in the emissions of air contaminants shall be issued to the owner or owners of the emissions source, and such reductions shall continue to be banked until they have been used according to district regulations. The owner or owners of such approved reductions have the exclusive right to use them and to authorize their use. Certificates evidencing ownership of approved reductions issued by a district shall not constitute instruments, securities, or any other form of property.
Cal. Health & Safety Code § 40710
General Powers and Duties
Applied in 1 court decision — leading case 57 Cal. 4th 593 - Elk Hills Power v. Board of Equalization (2013)
Most recently applied in 57 Cal. 4th 593 - Elk Hills Power v. Board of Equalization (August 2013)
Amended by Stats. 1980, Ch. 692.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.