2011 California Code
Insurance Code
DIVISION 2. CLASSES OF INSURANCE [1880 - 12865]
ARTICLE 8. Conservatorship
Section 12562
In the conservation, operation, management, control or liquidation of the affairs of any trust hereunder the conservator, subject to the approval of the court and notwithstanding anything to the contrary contained in the trust indenture under which the trust is established, may sell, mortgage, or otherwise encumber or exchange any of the property or assets held in such trust upon such terms as he deems advisable and in the best interests of the certificate holders thereunder, and may accept a deed in lieu of foreclosure. The conservator may also do any act or execute any instrument not expressly authorized by this article upon an order of the court made after a hearing on such notice as the court shall prescribe.
(Amended by Stats. 1935, Ch. 761.)
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