{"data":{"id":"us-ca/fin-31042","jurisdiction":"us-ca","citation":"FIN § 31042","heading":"","body":"“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.","path":["Financial Code - FIN","DIVISION 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS [31000. - 31952.]","CHAPTER 1. General Provisions [31000. - 31056.]","ARTICLE 3. Definitions [31030. - 31056.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"3eedd29563cb129062eacd02e27eaea60274436afc29b191c5509f5146210b1b","source_id":"us-ca","stale":false,"prev":"us-ca/fin-31041","next":"us-ca/fin-31043"},"notice":"GroundRules: Original legal text. Not legal advice."}