CCL Version .58 Has Been Released

  • Fixed typos
  • Modified definition of “trespass” to include unauthorized entrance “into owned space” (and not simply “upon land”).
  • Brought language of riparian and atmospheric rights into conformity with each other (“unaltered”), and also added “substantially unaltered” to the condition, which will be left up for arbiters/judges to decide.
  • Proof of being a CCL member was modified to say “demonstrated by rightful possession of an authentic membership ID card…” There are also more conditions regarding the relationship of the ID Card and registration on the digital network so that both exist “in tandem” with one another (preventing fraud and also maintaining consistent records).
  • Clarified information requirements for corporate membership.
  • Expanded definitions of “financial institutions.” Readers may ask why this type of membership and section is necessary, and the answer is simple: otherwise there would be no way to determine frauds and pseudo-frauds such as fractional-reserve banking and the problem of bank runs. But this requires defining a “financial institution” to begin with. And why “exclusive right” to function as a “financial institution”? Why require membership? Because there has to be an incentive for membership, otherwise there are no benefits an only restrictions (do banks want more or less regulations? Less). If financial institutions aren’t required to have CCL Financial Institution membership, then they cannot be regulated as such and conduct all the types of bank frauds that have occurred anywhere else.

 


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