reglab/housing_qa huggingface dataset:
CA Fin Code § 607 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 1 - General Provisions|Section 607.

607.  (a) If the commissioner retains possession of the assets of the licensee for the purpose of liquidation or conservation, the commissioner shall, to the extent possible, use the services of civil service employees of the commissioner’s office, and the attorneys employed by the commissioner or the Department of Justice shall render all necessary legal services, as the commissioner may request.(b) The commissioner, from time to time, under his or her official seal, may appoint one or more special deputy commissioners as his or her agent or agents with the powers specified in the certificate of appointment to assist him or her in the duties of conservation or of liquidation and distribution. The certificate of appointment shall be filed in the office of the commissioner and a certified copy in the office of the clerk of the county in which the head office of the licensee is located. The commissioner may employ counsel and procure expert assistance and advice as may be necessary in the liquidation and distribution of the assets of the licensee and for that purpose may retain any of the officers or employees of the licensee as the commissioner may deem necessary.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 608 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 1 - General Provisions|Section 608.

608.  The compensation of civil service employees, special deputies, counsel, and other employees and assistants appointed to assist in the conservation or liquidation of any licensee and the distribution of its assets and all expenses of supervision and liquidation shall be fixed by the commissioner and shall be paid out of the funds of the licensee in the hands of the commissioner. The expenses of liquidation shall be reported to the court upon each application for payment of a dividend.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 609 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 1 - General Provisions|Section 609.

609.  If a licensee is not insured by a Federal Insurance Agency, upon the commissioner taking possession of the business and property of the licensee, the superior court of the State of California for the county in which the head office of the licensee is located shall have exclusive original jurisdiction of all proceedings relating thereto and of any action or other proceedings brought under the provisions of this article. All papers relating to the proceeding, including copies of the certificate of appointment of any special deputy and the inventories required to be filed, shall be filed and be made a part of the record of the proceeding without the payment of any additional fees. No damages may be awarded in the proceeding but, if sought, may only be recovered in a separate action.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 620 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 2 - Conservation or Liquidation of an Insured Licensee|Section 620.

620.  If the licensee whose property and business has been taken pursuant to Section 592 is insured by a Federal Insurance Agency, the commissioner may tender to the appropriate Federal Insurance Agency an appointment as conservator, liquidator, or receiver of the licensee. The commissioner shall determine whether the licensee whose property and business has been taken shall be liquidated or conserved. If the Federal Insurance Agency accepts the appointment, the Federal Insurance Agency shall have, in addition to any powers conferred by applicable federal law, the powers conferred on the commissioner pursuant to this chapter.(Amended by Stats. 2015, Ch. 190, Sec. 29. (AB 1517) Effective January 1, 2016.)
CA Fin Code § 621 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 2 - Conservation or Liquidation of an Insured Licensee|Section 621.

621.  The Federal Insurance Agency may be, and act as, a conservator, liquidator, or receiver without bond.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 622 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 2 - Conservation or Liquidation of an Insured Licensee|Section 622.

622.  If the Federal Insurance Agency accepts the appointment in accordance with Section 620, the rights of customers and other creditors of the insured licensee shall be determined in accordance with the applicable provisions of the laws of this state.(Amended by Stats. 2015, Ch. 190, Sec. 30. (AB 1517) Effective January 1, 2016.)
CA Fin Code § 623 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 2 - Conservation or Liquidation of an Insured Licensee|Section 623.

623.  The Federal Insurance Agency conservator, liquidator, or receiver shall possess with respect to the insured licensee all the powers, rights, and privileges given the commissioner under this article with respect to the conservation or liquidation of a licensee, as appropriate, and the property and assets of which he or she has taken possession, except insofar as the same may be in conflict with the provisions of applicable federal law.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 640 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 640.

640.  Whenever the commissioner deems it necessary in order to conserve the assets of any licensee that does not have federal deposit or share insurance for the benefit of the customers and other creditors, he or she may appoint a conservator of the licensee and require the conservator to post a bond as the commissioner deems proper. The conservator, under the direction of the commissioner, shall take possession of the books, records, and assets of every description of the licensee and take any action as the conservator may deem necessary to conserve the assets of the licensee pending further disposition of its business.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 641 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 641.

641.  A conservator appointed in accordance with Section 640 has all of the powers and rights with relation to the business and the property of the licensee for which he or she is appointed conservator as are possessed by the commissioner under this article with relation to a licensee of which the commissioner has taken possession, and the conservator is subject to the same obligations as are imposed upon the commissioner under this article. During the time that the conservator remains in possession of the licensee the rights of the licensee, and of all persons with respect thereto, subject to the other provisions of this article, are the same as if the commissioner had taken possession of the property and business of the licensee for the purposes of liquidation. All expenses of the conservatorship shall be paid out of the assets of the licensee and shall be a lien thereon which shall be prior to any other lien. The conservator shall receive a salary in an amount no greater than that which would be paid by the commissioner to a special deputy in charge of the liquidation of a licensee.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 642 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 642.

642.  The commissioner may order an examination at the earliest possible date of a licensee for which the commissioner has appointed a conservator.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 643 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 643.

643.  While any licensee is in the hands of a conservator, the commissioner may require the conservator to set aside and make available for withdrawal by customers and for payment to other creditors on a ratable basis such amounts as in the opinion of the commissioner may safely be used for that purpose.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 644 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 644.

644.  The commissioner, in his or her discretion, may permit the conservator to receive shares or deposits, but any shares or deposits received while the licensee is in the hands of a conservator shall be held as trust funds and shall not be subject to any limitation as to payment or withdrawal. The shares or deposits shall be segregated and shall not be used to liquidate any indebtedness of the licensee existing at the time the conservator was appointed or for the payment of any later indebtedness incurred for the purpose of liquidating any indebtedness of the licensee existing at the time the conservator was appointed. The shares or deposits shall be kept on hand in cash, invested in direct obligations of the United States, or deposited with the Federal Reserve Bank.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 645 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 645.

645.  If the commissioner is satisfied that it may be done safely and that it would be in the public interest, he or she may terminate a conservatorship and permit the licensee for whom a conservator was appointed to resume the transaction of its business under the direction of its board, subject to any terms, conditions, restrictions, and limitations as the commissioner may prescribe.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 646 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 646.

646.  The conservator of a licensee that has been permitted to resume accepting member shares or deposits shall first cause a notice to be published in a newspaper of local circulation. The notice shall state the date on which the affairs of the licensee will be returned to its board and that the provisions of Section 644 will not be effective after 30 days from that date. The form of the notice and the newspaper in which the same is to be published shall be first approved by the commissioner. On the date of the publication of the notice, the conservator shall mail a copy of the notice to every person who made any deposit in the licensee after the date of the appointment of the conservator. The conservator shall address the copy of the notice to the persons who have made the deposits at the addresses appearing upon the books of the licensee. The conservator shall also mail a similar notice to every person making a deposit in the licensee after the date of the publication of the notice and before the affairs of the licensee are returned to its board.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 647 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 647.

647.  The commissioner may assess and collect from all licensees for whom a conservator is appointed their ratable share of the costs incurred in the administration of this article.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 648 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 648.

648.  Any licensee that the commissioner has taken possession of pursuant to Section 592, and for which a conservator has been appointed pursuant to this article, may be reorganized under a plan that requires the consent of any of the following:(a) Customers and other creditors of the licensee representing at least 75 percent in amount of its total member shares or deposits and other liabilities as shown by the books of the licensee, excluding member shares or deposits and other liabilities which are to be satisfied in full under the provisions of the plan.(b) Stockholders owning at least two-thirds of the outstanding stock as shown by the books of the licensee.(c) Members of the licensee.(d) Customers and other creditors of the licensee representing at least 75 percent in amount of its total shares or deposits and other liabilities as shown by the books of the licensee, excluding shares or deposits and other liabilities that are to be satisfied in full under the provisions of the plan, and, if applicable to the licensee, of stockholders owning at least two-thirds of its outstanding stock as shown by the books of the licensee.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 649 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 649.

649.  All customers, creditors, stockholders, if applicable, and other interested persons shall be given notice of any proposed plan of reorganization in the manner and at the times as the commissioner directs.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 650 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 650.

650.  No plan of reorganization shall become effective until the commissioner finds that the plan is fair and equitable to all customers, creditors, and stockholders, if applicable, and is in the public interest and until the commissioner approves the same in writing, subject to any conditions, restrictions, and limitations as the commissioner may prescribe.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 651 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 651.

651.  No creditor having security for the payment of his, her, or its claim shall be affected in his, her, or its right to enforce the security by the provisions of any plan for the reorganization of the licensee. Any plan of reorganization involving the reduction of claims of creditors shall apply only to that portion of a secured creditor’s loan that is not covered by the pledged security.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 652 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 3 - Conservatorship of an Uninsured Licensee|Section 652.

652.  When any plan of reorganization becomes effective, all books, records, and assets of the licensee shall be disposed of in accordance with the provisions of the plan and the affairs of the licensee shall be conducted by its board in the manner provided by the plan and under the conditions, restrictions, and limitations that may have been prescribed by the commissioner. When any plan of reorganization adopted and approved as herein provided becomes effective, all customers and other creditors and, if applicable, stockholders of the licensee, whether or not they have consented to the plan of reorganization, shall be fully and in all respects subject to and bound by the plan’s provisions and the claims of all customers and other creditors shall be treated as if they had consented to the plan of reorganization.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 670 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 670.

670.  Upon taking possession of the property and business of a licensee that does not have federal deposit or share insurance, the commissioner may sell, compromise, or compound any bad or doubtful debt owing the licensee for a principal sum not exceeding ten thousand dollars ($10,000), upon those terms as the commissioner may deem proper. If the principal sum thereof exceeds ten thousand dollars ($10,000), the commissioner may compromise, compound, or sell the debt upon those terms as the court may approve. If it appears improbable that a recovery on a debt can be had, and that the costs of an action to collect would be lost, and the principal sum thereof does not exceed five hundred dollars ($500), the commissioner may determine that no suit thereon shall be brought. If the principal sum of that debt exceeds ten thousand dollars ($10,000), the commissioner may determine that no suit thereon be brought after obtaining approval of the court.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 671 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 671.

671.  The commissioner may sell any real or personal property of the licensee for cash or on credit and on any other terms and conditions as the commissioner may deem proper, subject to the approval of the court.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 673 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 673.

673.  Within six months after taking possession of the property and business of any licensee that does not have federal deposit or share insurance, the commissioner may terminate or adopt any executory contract to which the licensee may be a party, including leases of real or personal property. Claims for damages resulting from the termination of any contract or lease may be filed and allowed, but no claim of a landlord for damages resulting from the rejection of an unexpired lease of real property or under any covenant of the lease shall be allowed in an amount exceeding the rent reserved by the lease, without acceleration, for the year succeeding the date of the surrender of the premises plus the amount of any unpaid accrued rent without acceleration. Any claim shall be filed within 30 days of the date of the termination or within the time that claims are to be filed under Section 680, whichever is longer.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 674 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 674.

674.  The commissioner, in his or her own name or in the name of the licensee, may execute, acknowledge, and deliver any and all conveyances and other instruments necessary or appropriate to effectuate the sale of any real or personal property or to effectuate any other transaction in connection with the liquidation of a licensee or the distribution of its assets. Any conveyance or other instrument executed by the commissioner pursuant to this authority shall be valid and effectual for all purposes as though the same had been executed by the officers of the licensee by authority of its board of directors. Whenever the commissioner sells any real property of the licensee a certified copy of the order of the court approving the sale shall be recorded in the county in which any part of the real property is located.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 675 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 675.

675.  The commissioner, in the name of the delinquent licensee or in his or her own name, may prosecute and defend any and all actions and other legal proceedings appropriate or necessary to the liquidation of the licensee.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 676 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 676.

676.  The commissioner from time to time shall deposit all moneys coming into his or her hands in the course of the liquidation of the licensee in one or more state banks or state credit unions and in the event of the suspension or insolvency of the depositary shall be preferred before all other deposits.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 677 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 677.

677.  The commissioner shall make an inventory of the assets of the licensee in duplicate and file one in the office of the commissioner and one with the clerk of the county in which the head office of the licensee is located to be filed with the papers in the liquidation proceedings. The inventory shall be open for inspection at all reasonable times.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)
CA Fin Code § 678 (2021)
2021 California Code|Financial Code - FIN|DIVISION 1 - FINANCIAL INSTITUTIONS|CHAPTER 7 - Liquidation and Conservation|ARTICLE 4 - Liquidation of an Uninsured Licensee|Section 678.

678.  When the time fixed for the presentation of claims has expired, the commissioner shall make in duplicate a full and complete list of all claims presented, including and specifying claims that have been rejected by the commissioner, and a list of all claims of customers as shown by the books or records of the licensee for which claims have not yet been presented, and shall file one copy of the list in the commissioner’s office and one with the clerk of the county in which the head office of the licensee is located to be filed with the papers in the liquidation proceedings. Before each application to the court for leave to declare a dividend, the commissioner shall file a supplemental list of claims presented since the last preceding list was filed, including and specifying any claims that have been rejected by him or her. The list of claims and of claims of customers as shown by the books or records of the licensee shall be open for inspection at all reasonable times.(Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)