§ 640 Whenever the commissioner deems it necessary in order to conserve the …
§ 641 A conservator appointed in accordance with Section 640 has all of the …
§ 642 The commissioner may order an examination at the earliest possible …
§ 643 While any licensee is in the hands of a conservator, the commissioner …
§ 644 The commissioner, in his or her discretion, may permit the …
§ 645 If the commissioner is satisfied that it may be done safely and that …
§ 646 The conservator of a licensee that has been permitted to resume …
§ 647 The commissioner may assess and collect from all licensees for whom a …
§ 648 Any licensee that the commissioner has taken possession of pursuant …
§ 649 All customers, creditors, stockholders, if applicable, and other …
§ 650 No plan of reorganization shall become effective until the …
§ 651 No creditor having security for the payment of his, her, or its claim …
§ 652 When any plan of reorganization becomes effective, all books, …

Terms Used In California Codes > Financial Code > Division 1 > Chapter 7 > Article 3 - Conservatorship of an Uninsured Licensee

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
  • Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8