California Financial Code 17638 – In liquidating the affairs of a licensee the commissioner …
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In liquidating the affairs of a licensee the commissioner may:
(a) Collect all money due to, and claims of, the licensee and give receipt therefor.
Terms Used In California Financial Code 17638
- County: includes city and county. See California Financial Code 14
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Personal property: All property that is not real property.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
(b) Approve and pay all just and equitable claims.
(c) Commence and prosecute all actions and proceedings necessary to enforce liquidation.
(d) Compound bad or doubtful debts or claims, borrow money, sell, convey, or transfer real or personal property, on order of the superior court of the county in this State in which the principal office of the licensee is located. The order shall be made after hearing and on such notice as the court prescribes.
(Added by Stats. 1963, Ch. 2130.)