Ca_Law

statute | California

Financial Code - FIN - FIN § 18420.1

  • UIDca_leginfo_codes:fin-18420-1
  • CitationFinancial Code - FIN - FIN § 18420.1
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

No transaction involving real or personal property, investment or reinvestment of funds or assets, or settlement or compromise of pending lawsuits shall be made without first obtaining permission of the court, and then only in accordance with such terms as the court may prescribe

Text

No transaction involving real or personal property, investment or reinvestment of funds or assets, or settlement or compromise of pending lawsuits shall be made without first obtaining permission of the court, and then only in accordance with such terms as the court may prescribe, when either of the following exist:
(a)
The principal sum of any obligation due the company or settlement or compromise of a pending lawsuit exceeds the sum of fifteen thousand dollars ($15,000).
(b)
The market value of
any real or personal property, except obligations due the company, exceeds the sum of ten thousand dollars ($10,000).

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 18420.1

    No transaction involving real or personal property, investment or reinvestment of funds or assets, or settlement or compromise of pending lawsuits shall be made without first obtaining permission of the court, and then only in accordance with such terms as the court may prescribe, when either of the following exist: …