California § 640 - Whenever the commissioner deems it necessary in order to conserve the assets of a
Full text of California Public Contract Code - PCC § 640 — Whenever the commissioner deems it necessary in order to conserve the assets of a, with citation guidance and answers to common questions.
§ 640. Whenever the commissioner deems it necessary in order to conserve the assets of a
Whenever the commissioner deems it necessary in order to conserve the assets of any licensee that does not have federal deposit or share insurance for the benefit of the customers and other creditors, he or she may appoint a conservator of the licensee and require the conservator to post a bond as the commissioner deems proper. The conservator, under the direction of the commissioner, shall take possession of the books, records, and assets of every description of the licensee and take any action as the conservator may deem necessary to conserve the assets of the licensee pending further disposition of its business.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 640
What does Public Contract Code - PCC § 640 cover?
Section 640 ("Whenever the commissioner deems it necessary in order to conserve the assets of a") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 640?
A common citation format is "Public Contract Code - PCC § 640" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 640 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.