Fin. Code, § 18415.21 · Article 4. Possession, Conservatorship, and Liquidation by the Commissioner
Fin. Code, § 18415.21
Verbatim from the official edition
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Any transaction occurring within six months of the date of taking possession shall be voidable by the conservator or liquidator if the transaction has the effect of giving to, or enabling any creditor of, the company, any affiliate of the company, any officer, director, stockholder, employee or any relative thereof, to obtain a preference over any other creditor of the company.
Notes and commentary — not statutory text
History
Added by Stats. 1985, Ch. 140, Sec. 1. Effective July 1, 1985.
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=18415.21.
- Text hash
- sha256 63d165f04e282081bef9467fbfcc00204571ed5660f2410cb0e65bf40477ac7d
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.