Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
Whenever it appears to the commissioner that Guaranty Corporation has:
(a) Violated its articles of incorporation or any law of this state;
(b) Not paid amounts as directed by the commissioner pursuant to Section 18490;
(c) Invested its funds in violation of Section 18497;
(d) Not levied assessments as required by Sections 18535 and 18536;
(e) Has not brought and diligently prosecuted an action to enforce payment as required by Section 18538;
(f) Violated any section of this chapter; or
(g) Neglected or refused to submit its books, papers, and affairs to the inspection of any examiner;
the commissioner may forthwith take possession of the property and business of Guaranty Corporation and retain possession until Guaranty Corporation satisfies the commissioner that it will operate in conformity with this chapter. During the time the commissioner has such possession he shall perform the duties and carry out the obligations of Guaranty Corporation.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 18493 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-18493/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)