California Government Code

§ 12896

GOV § 12896 Effective Jan 1, 2023Div. 3 · Title 2 · Part 2.5 · Ch. 5

Statute text

(a)This section applies to every action brought in the name of the people of the State of California by the Commissioner of Financial Protection and Innovation before, on, or after the effective date of this section, when enforcing provisions of those laws administered by the Commissioner of Financial Protection and Innovation which authorize the Commissioner of Financial Protection and Innovation to seek a permanent or preliminary injunction, restraining order, or writ of mandate, or the appointment of a receiver, monitor, conservator, or other designated fiduciary or officer of the court, except actions brought against any of the licensees specified in paragraphs (1) through (8), inclusive, of subdivision (b) of Section 300 of the Financial Code that are governed by other law. Upon a proper showing, a permanent or preliminary injunction, restraining order, or writ of mandate shall be granted and a receiver, monitor, conservator, or other designated fiduciary or officer of the court may be appointed for the defendant or the defendant’s assets, or any other ancillary relief may be granted as appropriate. The court may order that the expenses and fees of the receiver, monitor, conservator, or other designated fiduciary or officer of the court, be paid from the property held by the receiver, monitor, conservator, or other court-designated fiduciary or officer, but neither the state, the Business, Consumer Services, and Housing Agency, nor the Department of Financial Protection and Innovation shall be liable for any of those expenses and fees, unless expressly provided for by written contract.

(b)The receiver, monitor, conservator, or other designated fiduciary or officer of the court may do any of the following subject to the direction of the court:

(1)Sue for, collect, receive, and take into possession all the real and personal property derived by any unlawful means, including property with which that property or the proceeds thereof has been commingled if that property or the proceeds thereof cannot be identified in kind because of the commingling.

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Legislative history

Amended by Stats. 2022, Ch. 452, Sec. 184. (SB 1498) Effective January 1, 2023.