ARTICLE 6. Conservatorship [8225. - 8230.]

Heading of Article 6 renumbered from Article 5 by Stats. 1984, Ch. 287, Sec. 41.

§§ 8225–8230 · 6 sections

• § 8225 (a) Whenever the commissioner deems it necessary in order to conserve the assets of any association for the benefit of the depositors and other creditors, or…
• § 8226 Any conservator shall have all the rights, powers, and privileges possessed by the officers, directors, members and stockholders of the association.
• § 8227 Except as authorized by the commissioner, the conservator shall not retain special counsel or other experts, incur any expense other than normal operating…
• § 8228 The directors and officers shall remain in office and the employees shall remain in their respective positions, but the conservator may remove any director,…
• § 8229 (a) While the association is in the charge of a conservator, savings account holders, borrowers, and other obligors of the association shall continue to make…
• § 8230 Whenever a conservator has taken possession of the property and business of any association pursuant to this article, that association, within 10 days after…