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.
Cal. Fin. Code § 18415.4
Possession, Conservatorship, and Liquidation by the Commissioner
Known as the Industrial Loan Law
The act spans §§ 18000–18707 (410 sections).
Added by Stats. 1985, Ch. 140, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.