2010 California Code
Financial Code
Article 8. Salvage Of Loans And Investments

7650.  (a) Except as provided in subdivision (b), nothing in this
division or the laws of this state shall be construed as denying to
an association the right to invest its funds, operate a business,
manage or deal in property, or take any other action over whatever
period of time may reasonably be necessary to avoid loss on a loan or
investment made or an obligation created in good faith.
   (b) Associations which do not meet the requirements of Section
6475, or have been issued an order pursuant to Section 8200, shall
not take any action pursuant to this section without first obtaining
approval, in writing, from the commissioner.