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DIVISION 1. FINANCIAL INSTITUTIONS 99-819›CHAPTER 7. Liquidation and Conservation 600-710›ARTICLE 3. Conservatorship of an Uninsured Licensee 640-652

§ 643

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

While any licensee is in the hands of a conservator, the commissioner may require the conservator to set aside and make available for withdrawal by customers and for payment to other creditors on a ratable basis such amounts as in the opinion of the commissioner may safely be used for that purpose.

(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)

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California Financial Code

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