California § 8253 - If the association is an institution insured by the Federal Deposit Insurance Cor
Full text of California Public Contract Code - PCC § 8253 — If the association is an institution insured by the Federal Deposit Insurance Cor, with citation guidance and answers to common questions.
§ 8253. If the association is an institution insured by the Federal Deposit Insurance Cor
If the association is an institution insured by the Federal Deposit Insurance Corporation, the Federal Deposit Insurance Corporation shall be tendered appointment as receiver or coreceiver. If it accepts the appointment, it may, nevertheless, make loans on the security of or purchase at public or private sale any part or all of the assets of the association of which it is receiver or coreceiver, provided the loan or purchase is approved by the court.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 8253
What does Public Contract Code - PCC § 8253 cover?
Section 8253 ("If the association is an institution insured by the Federal Deposit Insurance Cor") 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 § 8253?
A common citation format is "Public Contract Code - PCC § 8253" (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 § 8253 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.