BlackletterCalifornia law

Corporations Code § 28037

ARTICLE 2. Definitions

Current as of September 28, 2026Corp. Code, § 28037Official source ↗

Added by Stats. 1998, Ch. 668, Sec. 3. Effective January 1, 1999. Operative July 1, 1999, by Sec. 4 of Ch. 668.

“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.