California Financial Code ARTICLE 3 - Conversion Into Federal Credit Unions

• Section 15300.
  A credit union may convert itself into a federal credit union by following the procedure contained in this article.(Repealed and added by Stats. 1979, Ch.
• Section 15301.
  Upon recommendation of the board of directors the members of any credit union may by an affirmative majority vote of such members resolve to convert...
• Section 15302.
  Within 10 days after the meeting or written vote at which the members determine to convert into a federal credit union, the credit union shall...
• Section 15303.
  A certified copy of the certificate required by Section 15302 filed in the office of the Secretary of State is presumptive evidence of the holding...
• Section 15304.
  After the meeting or the written vote of the members, the credit union shall take such action as is necessary to make it a federal...
• Section 15305.
  At the time the conversion into a federal credit union becomes effective, the credit union ceases to be supervised by this state and all of...
• Section 15306.
  The converted federal credit union shall have, hold, and enjoy the property mentioned in Section 15305 in its own right as fully and to the...

Last modified: October 22, 2018