Section 18415.1 Of Article 4. Possession, Conservatorship, And Liquidation By The Commissioner From California Financial Code >> Division 7. >> Chapter 5. >> Article 4.
18415.1
. Whenever the commissioner has taken possession of the
property and business of an industrial loan company, that industrial
loan company, within 10 days after the taking, if it deems itself
aggrieved thereby, may apply to the superior court in the county in
which the head office of the industrial loan company is located to
enjoin further proceedings. The commissioner may exercise all powers
granted by this article during the 10-day period after taking
possession of the property and business of the industrial loan
company. The court, after citing the commissioner to show cause why
further proceedings should not be enjoined and after a hearing and a
determination of the facts upon the merits may dismiss the
application or enjoin the commissioner from further proceedings and
direct the commissioner to surrender the property and business to the
industrial loan company, or make such further order as may be just.