Upon the issuance of an order of liquidation under section 1016, the rights and liabilities of any such person and of creditors, policyholders, shareholders and members, and all other persons interested in its assets, including the State of California, shall, unless otherwise directed by the court, be fixed as of the date of the entry of the order in the office of the clerk of the county wherein the application was made.
Cal. Ins. Code § 1019
Proceedings in Cases of Insolvency and Delinquency
Applied in 3 court decisions — leading case 52 Cal. App. 2d 374 - W. J. Jones & Son, Inc. v. Independence Indemnity Co. (1942)
Most recently applied in California Rono Llc v. Altus Finance Sa (September 2003)
Amended by Stats. 1939, Ch. 934.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.