The directors and officers shall remain in office and the employees shall remain in their respective positions, but the conservator may remove any director, officer, or employee, provided the order of removal of a director or officer shall be approved in writing by the commissioner.
Cal. Fin. Code § 8228
Conservatorship
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by Stats. 1983, Ch. 1091, Sec. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.