The commissioner may impose conditions requiring the deposit in escrow of securities and the impoundment of the proceeds from the sale thereof, limiting the expense in connection with the sale thereof, and otherwise requiring such method of dealing as he deems reasonable and either necessary or advisable to insure the disposition of the proceeds of such securities in the manner and for the purposes provided in the permit.

(Enacted by Stats. 1935, Ch. 145.)

Terms Used In California Insurance Code 842

  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.