California Financial Code

§ 18425

FIN § 18425 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

If at any time after taking possession of the property and business of a company it shall appear to the commissioner that it would be futile to proceed as conservator with the conduct of the business of the company, the commissioner may order the company to be liquidated. A copy of the liquidation order shall be filed with the clerk of the superior court.

Legislative history

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