California Financial Code

§ 18425.16

FIN § 18425.16 Effective Jul 1, 1985Div. 7 · Ch. 5 · Art. 4

Statute text

In making its order approving the commissioner’s final statement of the liquidation of the company, the court shall determine the amounts of the liquidating dividends to which claimants are entitled but which then remain unpaid or unclaimed in the hands of the commissioner. The order of the court shall direct the commissioner to deposit those amounts with the Treasurer. All amounts so deposited shall be deemed to be deposited in the State Treasury under the provisions of Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure, and shall be subject to claim or disposition as provided in that chapter.

Legislative history

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