Section 18420.2 Of Article 4. Possession, Conservatorship, And Liquidation By The Commissioner From California Financial Code >> Division 7. >> Chapter 5. >> Article 4.
18420.2
. The commissioner may, with ex parte approval of the court,
sell all or any part of the company's assets to another industrial
loan company, to a bank, to a savings and loan association, to
Guaranty Corporation, or to an instrumentality of the United States
government. In like manner, the commissioner may borrow from Guaranty
Corporation, an instrumentality of the United States government, or
a private insurer which insures or guarantees the company's
investment certificates, any amount necessary to facilitate the
assumption of investment certificate liabilities by a newly chartered
or existing industrial loan company, assigning any part or all of
the assets of the company as security for that loan.