California Financial Code ARTICLE 1 - General Provisions
- Section 600.
In this chapter, “Federal Insurance Agency” means the Federal Deposit Insurance Corporation or the National Credit Union Administration, as appropriate, or their respective successors-in-interest.(Amended by...
- Section 601.
Upon taking possession of the property and business of any licensee, the commissioner has authority, and it is his or her duty, to collect all...
- Section 602.
No attachment shall be issued against the property of any licensee subject to conservation or liquidation pursuant to this article.(Added by Stats. 2011, Ch. 243,...
- Section 603.
Upon taking possession of the property and business of any licensee pursuant to Section 592, the commissioner may proceed to liquidate or conserve the licensee...
- Section 604.
Upon taking possession of the property and business of a licensee pursuant to Section 592, the commissioner may tender to any person or persons an...
- Section 605.
The commissioner shall supervise the acts of the conservator, liquidator, receiver, or liquidating committee appointed under this article and may remove the conservator, liquidator, receiver,...
- Section 606.
If required by the commissioner, the conservator, liquidator, receiver, or members of the liquidating committee appointed under this article shall provide proof of bond coverage...
- Section 607.
(a) If the commissioner retains possession of the assets of the licensee for the purpose of liquidation or conservation, the commissioner shall, to the extent possible,...
- Section 608.
The compensation of civil service employees, special deputies, counsel, and other employees and assistants appointed to assist in the conservation or liquidation of any licensee...
- Section 609.
If a licensee is not insured by a Federal Insurance Agency, upon the commissioner taking possession of the business and property of the licensee, the...
Last modified: October 22, 2018