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HomeFinancial CodeDiv. 1Ch. 7Art. 3§ 642 Examination Of Conservatorship Licensee

§ 642 Examination Of Conservatorship Licensee

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 642 Examination Of Conservatorship Licensee

Key Takeaways

  • •If a company is in big trouble, the boss in charge (commissioner) can check on them right away.
  • •The boss can send someone (a conservator) to help fix the company’s problems.
  • •The boss can then order a full check-up (examination) of the company to see what’s wrong.

Example

A bank is losing money and can’t pay its customers.

The commissioner steps in, sends a conservator to take control, and then orders an examination to figure out how to fix the bank.

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

Official Source
View on CA.gov

§ 642 Examination Of Conservatorship Licensee

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.)

Last verified: January 23, 2026

Key Terms

commissionlicensethe californiaexamination

Related Statutes

  • § 31507 Licensee Examination Requirements
  • § 645 Conservatorship Termination Conditions
  • § 647 Conservator Cost Recovery
  • § 31503 Asset Valuation Adjustment
  • § 640 Conservator Appointment Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 642.
View Official Source