California Financial Code

§ 2150.1

FIN § 2150.1 Effective Jan 1, 2012Div. 1.2 · Ch. 8

Statute text

(a)Every order, decision, or other official act of the commissioner is subject to review in accordance with law.

(b)Whenever the commissioner has taken possession of the property and business of any licensee, the licensee, within 10 days after that taking, if it deems itself aggrieved thereby, may apply to the superior court in the county in which the head office of the licensee is located to enjoin further proceedings. The court, after citing the commissioner to show cause why further proceedings should not be enjoined and after a hearing and a determination of the facts upon the merits, may dismiss the application or enjoin the commissioner from further proceedings and direct the commissioner to surrender the property and business to the licensee.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 4. (SB 664) Effective January 1, 2012.