Dominguez v. Superior Court

In Dominguez v. Superior Court (1983) 139 Cal.App.3d 692, the state superintendent of banks took possession of an insolvent bank and ordered it liquidated. (Id. at pp. 693-694.) Under the applicable statutes, the bank had 10 days within which to challenge the takeover. (Id. at p. 694.) A single bank director, acting in a manner not authorized by the bank's bylaws, filed a challenge within this period; after the period expired, the bank's board approved the filing. (Ibid.) The appellate court held that the board's approval did not retroactively ratify the filing, as doing so would have nullified the state superintendent's right to dismiss the challenge as untimely, and undermined the pertinent statutory scheme. (Id. at p. 695.)