California Financial Code

§ 18415.21

FIN § 18415.21 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

Any transaction occurring within six months of the date of taking possession shall be voidable by the conservator or liquidator if the transaction has the effect of giving to, or enabling any creditor of, the company, any affiliate of the company, any officer, director, stockholder, employee or any relative thereof, to obtain a preference over any other creditor of the company.

Legislative history

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