California § 644 - The commissioner, in his or her discretion, may permit the conservator to receive
Full text of California Public Contract Code - PCC § 644 — The commissioner, in his or her discretion, may permit the conservator to receive, with citation guidance and answers to common questions.
§ 644. The commissioner, in his or her discretion, may permit the conservator to receive
The commissioner, in his or her discretion, may permit the conservator to receive shares or deposits, but any shares or deposits received while the licensee is in the hands of a conservator shall be held as trust funds and shall not be subject to any limitation as to payment or withdrawal. The shares or deposits shall be segregated and shall not be used to liquidate any indebtedness of the licensee existing at the time the conservator was appointed or for the payment of any later indebtedness incurred for the purpose of liquidating any indebtedness of the licensee existing at the time the conservator was appointed. The shares or deposits shall be kept on hand in cash, invested in direct obligations of the United States, or deposited with the Federal Reserve Bank.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 644
What does Public Contract Code - PCC § 644 cover?
Section 644 ("The commissioner, in his or her discretion, may permit the conservator to receive") 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 § 644?
A common citation format is "Public Contract Code - PCC § 644" (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 § 644 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.