California Financial Code ARTICLE 13 - Redemption

• Section 7150.
  At any time funds are on hand for the purpose, an association shall have the right to redeem by lot or otherwise, as the board...
• Section 7151.
  Except with the prior consent of the commissioner, no association shall redeem any of its savings accounts when the association is in an impaired condition...
• Section 7152.
  The redemption price of savings accounts redeemed shall be the full value of the account redeemed, as determined by the board of directors, but in...
• Section 7153.
  If the notice of redemption under Section 7150 has been given, and if on or before the redemption date the funds necessary for the redemption...
• Section 7154.
  (a) All certificates of ownership evidencing former savings accounts that have been called for redemption must be tendered for payment within the time limit specified in...

Last modified: October 22, 2018