California Financial Code 17340 – In the event the board of directors of Fidelity Corporation deem it …
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In the event the board of directors of Fidelity Corporation deem it necessary and prudent to raise additional moneys for payment of claims or expenses of administration, it may, with the commissioner’s written consent, borrow money against its assets, including future assessments.
(Repealed and added by Stats. 1988, Ch. 1458, Sec. 28. Effective September 28, 1988.)
Terms Used In California Financial Code 17340
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.