§ 31042
39 words·~1 min read·
/ca/financial-code/31042A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Insolvent”, when used with respect to any person, means a person who has ceased to pay his debts in the ordinary course of business, who cannot pay his debts as they become due, or whose liabilities exceed his assets.