Statute · California Financial Code

Cal. Fin. Code § 18415.21 — Possession, Conservatorship, and Liquidation by the Commissioner

Cal. Fin. Code § 18415.21

Type: Statute
Source: California Financial Code
Jurisdiction: California
Date: 1985-07-01
Current through: Nov 2, 2026 (California Legislative Counsel)

Any transaction occurring within six months of the date of taking possession shall be voidable by the conservator or liquidator if the transaction has the effect of giving to, or enabling any creditor of, the company, any affiliate of the company, any officer, director, stockholder, employee or…

Citator

Cal. Fin. Code § 18415.21 — Possession, Conservatorship, and Liquidation by the Commissioner is in force in the current edition of the Code, and nothing recorded condemns it.

Any transaction occurring within six months of the date of taking possession shall be voidable by the conservator or liquidator if the transaction has the effect of giving to, or enabling any creditor of, the company, any affiliate of the company, any officer, director, stockholder, employee or any relative thereof, to obtain a preference over any other creditor of the company.