California Financial Code
Section 3150
Any bank which voluntarily has ceased to do a banking business shall immediately notify the commissioner thereof and shall then proceed to liquidate its affairs. Any deposit or other sum which has not been paid to the person entitled thereto within six months after the bank ceased to conduct a banking business shall be paid into the State Treasury. Such deposits shall be deemed to have been received under the provisions of Chapter 7 (commencing with Section 1500) of Title 10 of Part 3 of the Code of Civil Procedure, and shall be subject to claim or other disposition as provided in said Chapter 7 (commencing with Section 1500) of Title 10. If the commissioner has reason to conclude that the liquidation of such bank is not being safely or expeditiously conducted, he or she may take possession of the business and property of such bank in the same manner and with the same effect and subject to the same rights accorded the bank as if he or she had taken possession pursuant to the provisions of Article 1 of this chapter, and he or she may proceed to liquidate its affairs in the same manner as provided in said Article 1. When such bank has been completely liquidated, its corporate existence shall be dissolved in the manner provided by law.
