California Law (Last Updated: March 4, 2014) |
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 18415.4.
Latest version.
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The commissioner may also, upon the request of the board of directors of a company, take possession of the property and business of a company and as conservator, take such action as the commissioner deems proper.
(Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.)