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2020 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 18415.21.
Universal Citation: CA Fin Code § 18415.21 (2020)
18415.21.
Any transaction occurring within six months of the date of taking possession shall be voidable by the conservator or liquidator if the transaction has the effect of giving to, or enabling any creditor of, the company, any affiliate of the company, any officer, director, stockholder, employee or any relative thereof, to obtain a preference over any other creditor of the company.
(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)
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