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DIVISION 7. INDUSTRIAL LOAN COMPANIES 18000-18707›CHAPTER 5. Administration and Powers of the Commissioner 18339-18427.11›ARTICLE 4. Possession, Conservatorship, and Liquidation by the Commissioner 18415-18425.17

§ 18415.21

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

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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California Financial Code

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