The Attorney General or his or her delegate may determine that the Travel Consumer Restitution Corporation has failed or ceased to operate upon a finding that any one of the following has occurred with respect to the corporation:
(a) Was not created.
(b) Has been dissolved.
(c) Has ceased to operate.
(d) Is insolvent or been the subject of an order for relief in bankruptcy.
(e) Has failed to pay its operating costs.
(f) Has failed to pay any claim or judgment in a timely manner.
(g) Has violated its articles of incorporation or any law of this state.
(h) Has invested its funds in violation of this article.
(i) Has not levied assessments as required by this article.
(j) Has not diligently decided upon a claim made by a person aggrieved.
(k) Has violated any section of this article.
(l) Has neglected or refused to submit its books, papers, and affairs to the inspection of the office of the Attorney General.
(Amended by Stats. 2009, Ch. 500, Sec. 5. (AB 1059) Effective January 1, 2010.)