California Financial Code

§ 676

FIN § 676 Effective Jan 1, 2012Div. 1 · Ch. 7 · Art. 4

Statute text

The commissioner from time to time shall deposit all moneys coming into his or her hands in the course of the liquidation of the licensee in one or more state banks or state credit unions and in the event of the suspension or insolvency of the depositary shall be preferred before all other deposits.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.