Ca_Law

statute | California

Financial Code - FIN - FIN § 18415.5

  • UIDca_leginfo_codes:fin-18415-5
  • CitationFinancial Code - FIN - FIN § 18415.5
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

Upon taking possession of the property and business of any industrial loan company, the commissioner shall give notice of that fact to all persons holding or having in their possession any assets of the company. The notice required by this section shall not be deemed to be a prer

Text

Upon taking possession of the property and business of any industrial loan company, the commissioner shall give notice of that fact to all persons holding or having in their possession any assets of the company. The notice required by this section shall not be deemed to be a prerequisite to the taking of possession of the property and business of the industrial loan company. No person knowing of the taking, or who has been notified thereof, shall have a lien or charge upon any assets of the company for any payment, advance or clearance thereafter made, or for any liability thereafter incurred.
Notice is deemed given when the commissioner has either made personal service of the notice, or mailed the notice to the person by certified mail.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 18415.5

    Upon taking possession of the property and business of any industrial loan company, the commissioner shall give notice of that fact to all persons holding or having in their possession any assets of the company. The notice required by this section shall not be deemed to be a prerequisite to the taking of possession of…