Fin. Code, § 17639 · Article 3. Liquidation by the Commissioner
Fin. Code, § 17639
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
After the issuance of an order of liquidation under Section 17635, any of the following transactions occurring within four months prior to the application for such order shall be voidable by the commissioner if such transaction has the effect of giving to or enabling any creditor of the licensee to obtain a preference over any other creditor, or to obtain a greater percentage of his debt than any other creditor:
(a) A transfer of property of the licensee.
(b) The creation of a lien upon the property of the licensee.
(c) The suffering of a judgment against such person.
Notes and commentary — not statutory text
History
Added by Stats. 1963, Ch. 2130.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=17639.
- Text hash
- sha256 04f4a2c7c16d659d6d764d3b0eb171f304c448b34035557a95152a6782012bad
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Financial Code
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