Upon the issuance of an order of liquidation under section 1016, the rights and liabilities of any such person and of creditors, policyholders, shareholders and members, and all other persons interested in its assets, including the State of California, shall, unless otherwise directed by the court, be fixed as of the date of the entry of the order in the office of the clerk of the county wherein the application was made.

(Amended by Stats. 1939, Ch. 934.)

Terms Used In California Insurance Code 1019

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • County: includes "city and county. See California Insurance Code 14
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
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