California Financial Code

§ 18415.17

FIN § 18415.17 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

The determination by the commissioner to liquidate a company, evidenced by filing written notice of the determination with the court, operates to stay or dissolve all actions or attachments instituted or levied within 90 days next preceding the taking of possession of the company by the commissioner, and pending the process of liquidation, no attachment or execution shall be levied or lien created upon any of the property of the company.

Legislative history

Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.