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2019 California Code
Financial Code - FIN
DIVISION 7 - INDUSTRIAL LOAN COMPANIES
CHAPTER 5 - Administration and Powers of the Commissioner
ARTICLE 4 - Possession, Conservatorship, and Liquidation by the Commissioner
Section 18425.
Universal Citation: CA Fin Code § 18425 (2019)
18425.
If at any time after taking possession of the property and business of a company it shall appear to the commissioner that it would be futile to proceed as conservator with the conduct of the business of the company, the commissioner may order the company to be liquidated. A copy of the liquidation order shall be filed with the clerk of the superior court.
(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
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