California Financial Code ARTICLE 2 - Conservation or Liquidation of an Insured Licensee

• Section 620.
  If the licensee whose property and business has been taken pursuant to Section 592 is insured by a Federal Insurance Agency, the commissioner may tender...
• Section 621.
  The Federal Insurance Agency may be, and act as, a conservator, liquidator, or receiver without bond.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664)...
• Section 622.
  If the Federal Insurance Agency accepts the appointment in accordance with Section 620, the rights of customers and other creditors of the insured licensee shall...
• Section 623.
  The Federal Insurance Agency conservator, liquidator, or receiver shall possess with respect to the insured licensee all the powers, rights, and privileges given the commissioner...
• Section 624.
  (a) The commissioner may sell to any other licensee any part or the whole of the business of a licensee that is subject to liquidation or...

Last modified: October 22, 2018