“Insolvent,” when used with respect to any person, means a person who has ceased to pay his or her debts in the ordinary course of business, who cannot pay his or her debts as they become due, or whose liabilities exceed his or her assets.
Cal. Corp. Code § 28037
Definitions
Known as the Capital Access Company Law
The act spans §§ 28000 to 28958 (104 sections).
Added by Stats. 1998, Ch. 668, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.