Section 18425.9 Of Article 4. Possession, Conservatorship, And Liquidation By The Commissioner From California Financial Code >> Division 7. >> Chapter 5. >> Article 4.
18425.9
. The liquidator, with the approval of the court, may pay
one or more dividends to investment certificate holders prior to the
expiration of the time for filing claims. After the time for filing
of claims has elapsed, the liquidator, after obtaining approval of
the court, may pay one or more dividends upon all approved claims out
of the funds remaining in the liquidator's possession after the
payment of expenses and after setting aside an amount to pay
creditors whose claims have been rejected and whose time for filing
an application to show cause under this article has not yet elapsed
or whose application is still pending. At any time after the
expiration of one year from the date of the first publication of
notice of creditors, and with court approval, the liquidator may pay
a final distribution which shall consist of the remaining funds
available for distribution, being distributed pro rata to all
approved creditor claims.