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HomeFinancial CodeDiv. 1Ch. 7Art. 4§ 679 Licensee Claims Notice Requirement

§ 679 Licensee Claims Notice Requirement

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

§ 679 Licensee Claims Notice Requirement

Key Takeaways

  • •If a company owes you money, you have to tell the government about it within 4 months after they announce it in the newspaper.
  • •If your name is already in the company's records as someone they owe money to, you still need to file a claim before they start giving out the final payments.
  • •If you don't tell them in time, you might not get your money back.

Example

Imagine you lent money to a local store, and they wrote it down in their books. The store goes out of business, and the government puts a notice in the newspaper saying you have 4 months to ask for your money back.

If you don't tell the government you're owed money within those 4 months, you might lose your chance to get paid, even if the store wrote down that they owe you.

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

Official Source
View on CA.gov

§ 679 Licensee Claims Notice Requirement

The commissioner shall cause notice to be given by advertisement in any newspapers of general circulation as he or she may select weekly for three consecutive months, calling on all persons who have claims against the licensee to present the same to the commissioner and make legal proof thereof at a place to be specified therein and within four months of the date of the first publication of the notice, which date shall be specified in the notice. The notice shall also state that all claims other than those of customers appearing upon the books or records of the licensee shall be forever barred if not filed within the four months’ period and that all claims of customers appearing upon the books or records of the licensee will be forever barred, except as herein provided, if not filed prior to the filing of a petition for a final dividend. The commissioner shall also mail a similar notice to all persons, including customers whose names appear as creditors upon the books of the licensee and whose addresses appear upon the books or records of the licensee, and shall enclose therewith a printed form of notice of claim. (Added by Stats. 2011, Ch. 243, Sec. 2. (SB 664) Effective January 1, 2012.)

Last verified: January 23, 2026

Key Terms

commissionerclaimlicensedividendadvertisementcirculationpublicationpetition

Related Statutes

  • § 680 Creditor Claims Deadline
  • § 678 Claim List Filing Requirements
  • § 681 Customer Claim Dividend Payments
  • § 683 Claim Objection Process
  • § 684 Unclaimed Dividend Treasury Deposit

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 679.
View Official Source