California Financial Code

§ 18420

FIN § 18420 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

The commissioner, as conservator or liquidator, after taking possession of the company, shall, in his or her name, in the name of the company, in the name of both, or otherwise, have authority to do all of the following:

(a)Collect all obligations and money due the company.

(b)Exercise and possess all the rights, powers and privileges of the company, its officers and directors.

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Legislative history

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