As of the operative date of this section:

(a) The Savings Association Special Regulatory Fund is converted into a separate account in the Financial Institutions Fund and designated as the Savings and Loan Account.

Terms Used In California Financial Code 8035.5

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • association: includes a foreign savings association doing business in this state under an approval issued by the commissioner. See California Financial Code 8030
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

(b) All moneys and other assets and all liabilities of the Savings Association Special Regulatory Fund shall be transferred to the Savings and Loan Account.

(Added by Stats. 1996, Ch. 1064, Sec. 563.5. Effective January 1, 1997. Operative July 1, 1997.)

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