Section 18420.1 Of Article 4. Possession, Conservatorship, And Liquidation By The Commissioner From California Financial Code >> Division 7. >> Chapter 5. >> Article 4.
18420.1
. No transaction involving real or personal property,
investment or reinvestment of funds or assets, or settlement or
compromise of pending lawsuits shall be made without first obtaining
permission of the court, and then only in accordance with such terms
as the court may prescribe, when either of the following exist:
(a) The principal sum of any obligation due the company or
settlement or compromise of a pending lawsuit exceeds the sum of
fifteen thousand dollars ($15,000).
(b) The market value of any real or personal property, except
obligations due the company, exceeds the sum of ten thousand dollars
($10,000).