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2.
An erect dick that does not extend the palm of a hand
HUSBAND - "That knife blade is shorter than the palm of my hand. That makes it street legal."

WIFE: "Same goes for your wee wee-wee."
by mBmD August 02, 2012
 
1.
15-year-old females
hey, Julie looks pretty young dude, is she not TOO young??

Nah mate, she's street legal!

by dirty diamond October 31, 2003
 
3.
Used to define a computer that is free of warez (retail software or shareware not purchased by the user), other illegal downloaded material (such as music, movies, etc. that were not originally purchased by the user.).
If I had more money, I could get all this cracked software off my computer and make it street legal so I don't have to worry about the RIAA busting down my door.
by NijimaSan October 26, 2004