{"code":"CORP","codeName":"Corporations Code","section":"28037","citation":"Corp. Code, § 28037","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"TITLE 4. SECURITIES [25000. - 31528.]","url":"https://blackletter.si/corporations-code/title-4"},{"name":"DIVISION 3. CAPITAL ACCESS COMPANIES [28000. - 28958.]","url":"https://blackletter.si/corporations-code/title-4/division-3"},{"name":"CHAPTER 1. General Provisions [28000. - 28049.]","url":"https://blackletter.si/corporations-code/title-4/division-3/chapter-1"},{"name":"ARTICLE 2. Definitions [28030. - 28049.]","url":"https://blackletter.si/corporations-code/title-4/division-3/chapter-1/article-2"}],"history":"Added by Stats. 1998, Ch. 668, Sec. 3.   Effective January 1, 1999.   Operative July 1, 1999, by Sec. 4 of Ch. 668.","effective":"1999-01-01","html":"<p>“Insolvent,” when used with respect to any person, means a person who has ceased to pay his or her debts in the ordinary course of business, who cannot pay his or her debts as they become due, or whose liabilities exceed his or her assets.</p>","text":"“Insolvent,” when used with respect to any person, means a person who has ceased to pay his or her debts in the ordinary course of business, who cannot pay his or her debts as they become due, or whose liabilities exceed his or her assets.","otherVersions":[],"url":"https://blackletter.si/corporations-code/definitions-28037","source":"California Legislative Information bulk export (pubinfo)"}