Cal. FIN § 17639
This is the official text of Cal. FIN § 17639, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
After the issuance of an order of liquidation under Section 17635, any of the following transactions occurring within four months prior to the application for such order shall be voidable by the commissioner if such transaction has the effect of giving to or enabling any creditor of the licensee to obtain a preference over any other creditor, or to obtain a greater percentage of his debt than any other creditor:
(a) A transfer of property of the licensee.
(b) The creation of a lien upon the property of the licensee.
(c) The suffering of a judgment against such person.
(a) A transfer of property of the licensee.
(b) The creation of a lien upon the property of the licensee.
(c) The suffering of a judgment against such person.
Status: in_force · Read it on the official government site
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