California · Financial Code
FIN §595: The commissioner is deemed to take possession of the entire property and business of a licensee when the commissioner takes possession of the business and property of the head office of the licensee.
What this law says, in plain English
When a commissioner takes possession of a licensee's head office property and business, the commissioner is considered to have taken possession of the licensee's entire property and business.
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.