California Financial Code

§ 18425.13

FIN § 18425.13 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

If a purchaser of any property or any bad or doubtful debt or claim of a company cannot be obtained and it appears improbable that recovery thereon can be had, and that the cost of action to enforce collection of the same would probably be lost, the superior court may direct that suit on the debt or claim need not be brought.

Legislative history

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