California · Financial Code

FIN §18415.4: The commissioner may also, upon the request of the board of directors of a company, take possession of the property and business of a company and as conservator, take such action as the commissioner d

What this law says, in plain English

A commissioner may take possession of a company's property and business as a conservator upon request from the company's board of directors.

Read the full statutory text

The commissioner may also, upon the request of the board of directors of a company, take possession of the property and business of a company and as conservator, take such action as the commissioner deems proper.

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