Notwithstanding anything to the contrary contained in any other law of this state, the judges of the superior court of the county in which is located the principal office in this state of any savings and loan association of whose business, property and assets possession shall have been taken by the Commissioner of Financial Institutions, may, in their discretion, whenever those judges deem it necessary or advisable, hold hearings relating to the sale, exchange or other disposition of any parcel of real property or any item of personal property of the association, regardless of the location of the property, at the county seat of any county in this state or at the places in the county in which the principal office in this state of the association is located at which sessions of the superior court are held.
§ 73c.Disposition of property of savings and loan associations; Place of hearings
Title 1. Organization and Jurisdiction · Chapter 4. Superior Courts · Last amended 2003 · Last verified July 28, 2026
In one sentence§ 73c lets the superior court judges in the county where a failed savings and loan association’s principal office is located hold hearings on selling or otherwise disposing of the association’s property at the county seat or wherever in that county the court holds its sessions, regardless of where the property sits.
Full Text of § 73c
Plain-English Summary
When the Commissioner of Financial Institutions takes over a savings and loan association’s business and assets, the courts in the association’s home county need to hold hearings on disposing of its property, wherever that property happens to be located in California. § 73c gives those judges flexibility about where to hold those hearings.
The judges of the superior court in the county where the association’s principal office sits may, at their discretion, hold hearings on the sale or other disposition of the association’s real or personal property at the county seat or at any place in the county where the court holds its sessions.
Official Comment
The following official comments are published by the California Law Revision Commission (and, for a few older sections, its predecessor Code Commissioners) alongside the statute itself — not commentary from this site.
2003 Law Revision Commission Comment. Section 73c is amended to reflect enactment of Government Code Section 69740(a) (number and location of trial court sessions). The section is also amended to delete language referring to “the judge” of the court. Every superior court has at least two judgeships as a result of trial court unification. See Gov’t Code § 69580 et seq. (number of judges). Where a court has only one judge due to a vacancy or otherwise, a reference to the judges of the court means the sole judge of the court. See Gov’t Code § 13 (plural includes singular). The section is also amended to delete the references to former Sections 73 and 142. The section is also amended to replace the reference to the former “Building and Loan Commissioner” with a reference to the “Commissioner of Financial Institutions.” See 1955 Cal. Stat. ch. 40, § 1; Fin. Code § 210.5(c). The section is also amended to replace the reference to “building and loan association” with a reference to “savings and loan association.” See 1955 Cal. Stat. ch. 40, § 1.
Frequently Asked Questions
Which court handles hearings over a failed savings and loan association’s property?
The superior court of the county where the association’s principal office in California is located, once the Commissioner of Financial Institutions has taken over its business and assets.
Does § 73c apply to any bank or financial institution?
No — it applies specifically to a savings and loan association whose business, property, and assets the Commissioner of Financial Institutions has taken possession of.
Amendment History
Added Stats 1945 ch 3 § 1, effective January 22, 1945. Amended Stats 2003 ch 149 § 1 (SB 79).
Source & verification. Section text is reproduced verbatim from
the Deering's California Codes Annotated / vLex. Enacted by the California Legislature.
Last verified July 28, 2026.
· Official source
Also known as: savings and loan association property hearingCommissioner of Financial Institutions property sale hearing