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HomeFinancial CodeDiv. 1Ch. 7Art. 4§ 671 Commissioner Property Sales Authority

§ 671 Commissioner Property Sales Authority

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

§ 671 Commissioner Property Sales Authority

Key Takeaways

  • •The person in charge can sell things that belong to someone with a license.
  • •They can sell for cash or let people pay later.
  • •They can set their own rules for the sale, but a judge has to say it's okay.

Example

If someone who owns a store goes out of business and owes money, the person in charge can sell the store's stuff.

The person in charge can sell the store's things, like shelves or products, for cash or let the buyer pay over time. But first, a judge has to agree to the sale.

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

Official Source
View on CA.gov

§ 671 Commissioner Property Sales Authority

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.)

Last verified: January 23, 2026

Key Terms

commissionpropertylicensethe california

Related Statutes

  • § 670 Debt Settlement Authority Limits
  • § 674 Commissioner Property Sale Authority
  • § 675 Licensee Liquidation Proceedings
  • § 680 Creditor Claims Deadline
  • § 681 Customer Claim Dividend Payments

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 671.
View Official Source