Section 12214 - Determination that recovery corporations has failed or ceased to operateThe Attorney General or his or her representative may determine that the recovery corporation has failed or ceased to operate upon a finding that any one of the following has occurred with respect to the recovery corporation:
(a) The recovery corporation was not created. (b) The recovery corporation is dissolved. (c) The recovery corporation ceased to operate. (d) The recovery corporation is insolvent or bankrupt. (e) The recovery corporation failed to pay its operating costs. (f) The recovery corporation failed to pay any claim or judgment in a timely manner. (g) The recovery corporation violated its articles of incorporation or any law of this state. (h) The recovery corporation invested its funds in violation of this chapter. (i) The recovery corporation has not diligently made a decision upon a claim made by a person aggrieved. (j) The recovery corporation violated any section of this chapter. (k) The recovery corporation neglected or refused to submit its books, papers, and affairs to the inspection of the Attorney General or his or her representatives.Added by Stats 2007 ch 437 (SB 729),s 6, eff. 1/1/2008.