Statute · California Financial Code
Cal. Fin. Code § 31042 — Definitions
Cal. Fin. Code § 31042
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
“Insolvent”, when used with respect to any person, means a person who has ceased to pay his debts in the ordinary course of business, who cannot pay his debts as they become due, or whose liabilities exceed his assets.
Citator
Cal. Fin. Code § 31042 — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
“Insolvent”, when used with respect to any person, means a person who has ceased to pay his debts in the ordinary course of business, who cannot pay his debts as they become due, or whose liabilities exceed his assets.