California Financial Code ARTICLE 6 - Conservatorship

• Section 8225.
  (a) Whenever the commissioner deems it necessary in order to conserve the assets of any association for the benefit of the depositors and other creditors, or...
• Section 8226.
  Any conservator shall have all the rights, powers, and privileges possessed by the officers, directors, members and stockholders of the association.(Added by Stats. 1983, Ch....
• Section 8227.
  Except as authorized by the commissioner, the conservator shall not retain special counsel or other experts, incur any expense other than normal operating expenses, or...
• Section 8228.
  The directors and officers shall remain in office and the employees shall remain in their respective positions, but the conservator may remove any director, officer,...
• Section 8229.
  (a) While the association is in the charge of a conservator, savings account holders, borrowers, and other obligors of the association shall continue to make payments...
• Section 8230.
  Whenever a conservator has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after the...

Last modified: October 22, 2018