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Earlier editions: 2020-112018-11

DIVISION 6. ESCROW AGENTS 17000-17703›CHAPTER 6. Liquidation and Conservatorship 17621-17654›ARTICLE 3. Liquidation by the Commissioner 17635-17654

§ 17637

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

The commissioner may appoint one or more special deputies to assist in the duties of liquidation and distribution under his direction and may also employ such special legal counsel, accountants, and assistants as may be needed and required and fix their salaries and compensation. All such salaries and compensation with other reasonable and necessary expenses as may be incurred in the liquidation shall be paid by the commissioner from the funds of the licensee in his hands. Such expenses shall include, among other things, that part of the salary of the commissioner and of his deputies, auditors, accountants, appraisers and other assistants, and that part of the general expenses of the commissioner’s office, as fairly represent, in the opinion of the commissioner, the proportion properly attributable to such liquidation.

(Added by Stats. 1963, Ch. 2130.)

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