Fin. Code, § 18500 · Article 2. General
Fin. Code, § 18500
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Guaranty Corporation shall have authority to:
(a) Borrow funds when necessary to effectuate the provisions of this chapter.
(b) Make loans to, deposits in, purchase assets or securities of, assume liabilities of, or make contributions to any Guaranty Corporation member to minimize the deficiency payments that might be required under Article 2 (commencing with Section 18490).
(c) Organize a new thrift company to assume the thrift obligations and temporarily perform the functions of the closed company. The commissioner may waive any provision of the Industrial Loan Law necessary to enable Guaranty Corporation to organize a new thrift company.
(d) Act as a conservator or receiver of a member company that the commissioner has taken possession of.
(e) Guaranty Corporation may use the fund, or any portion of the fund, in exercising its authority.
(f) Employ consultants, advisors, and others to assist Guaranty Corporation in fulfilling its obligations and objectives.
Notes and commentary — not statutory text
History
Amended by Stats. 1985, Ch. 142, Sec. 18. 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=18500.
- Text hash
- sha256 b44399a4ee097033c481b238d148ad8ea8725038de547880ca7c34b67ab7b67f
- 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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