California · Financial Code

FIN §18425.5: When an investment certificate holder is also a debtor, the liquidator may offset any balance due the investment certificate holder against the debt and the interest due on that debt up to the date of

What this law says, in plain English

A liquidator may offset money owed to an investment certificate holder against debts and interest that certificate holder owes, up to the offset amount.

Read the full statutory text

When an investment certificate holder is also a debtor, the liquidator may offset any balance due the investment certificate holder against the debt and the interest due on that debt up to the date of offset, in an amount not to exceed the amount of the debt or the amount of the thrift obligation guaranteed by the Thrift Guaranty Corporation of California, whichever is less.

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