Except in the case of an order issued based on a verified application showing the conditions in subdivision (j) of Section 1011 to exist, the order shall continue in force and effect until, on the application either of the commissioner or of that person, it shall, after a full hearing, appear to the court that the ground for the order directing the commissioner to take title and possession does not exist or has been removed and that the person can properly resume title and possession of its property and the conduct of its business.
Cal. Ins. Code § 1012
Proceedings in Cases of Insolvency and Delinquency
Applied in 1 court decision — leading case Applied Underwriters, Inc. v. Ricardo Lara (2022)
Most recently applied in Applied Underwriters, Inc. v. Ricardo Lara (June 2022)
Amended by Stats. 2013, Ch. 321, Sec. 9
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.