§ 17648 Abandonment Of Unrecoverable Property

Financial Code·California

AI SummaryVerified

This law lets a court tell the state regulator to stop trying to keep someone's property if making money from it is unlikely and keeping it would cost more than it's worth.

Key Takeaways

•The court can order abandonment when profit is unlikely.
•It applies when upkeep costs would probably be lost.
•The goal is to prevent wasting money on a hopeless property.

Example

A company owns an old, broken factory that would cost millions to fix but could never generate enough profit to cover those costs.

Because fixing the factory is too expensive and unlikely to ever pay off, the court can order the regulator to let the company abandon the property instead of spending more money on it.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 17648 Abandonment Of Unrecoverable Property

If it appears improbable that anything can be realized from any property of the licensee and that the cost of maintaining, preserving, or protecting the property would probably be lost, the court may direct the commissioner to abandon the property. (Added by Stats. 1963, Ch. 2130.)

Last verified: January 11, 2026

Key Terms

licensee property commissioner abandon

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 17648.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References