DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS 31000-31952›CHAPTER 1. General Provisions 31000-31056›ARTICLE 3. Definitions 31030-31056

§ 31042

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

“Insolvent”, when used with respect to any person, means a person who has ceased to pay his debts in the ordinary course of business, who cannot pay his debts as they become due, or whose liabilities exceed his assets.

(Added by Stats. 1977, Ch. 1164.)

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California Financial Code

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