Statute · California Financial Code
Cal. Fin. Code § 651 — Conservatorship of an Uninsured Licensee
Cal. Fin. Code § 651
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
No creditor having security for the payment of his, her, or its claim shall be affected in his, her, or its right to enforce the security by the provisions of any plan for the reorganization of the licensee. Any plan of reorganization involving the reduction of claims of creditors shall apply…
Citator
Cal. Fin. Code § 651 — Conservatorship of an Uninsured Licensee is in force in the current edition of the Code, and nothing recorded condemns it.
No creditor having security for the payment of his, her, or its claim shall be affected in his, her, or its right to enforce the security by the provisions of any plan for the reorganization of the licensee. Any plan of reorganization involving the reduction of claims of creditors shall apply only to that portion of a secured creditor’s loan that is not covered by the pledged security.