California Financial Code ARTICLE 4 - Conversion of Federal Credit Union

• Section 15350.
  Upon recommendation of its board of directors, any federal credit union may convert into a credit union under the laws of this state by complying...
• Section 15351.
  The officers and directors of the federal credit union shall be the officers and directors of the credit union after conversion takes effect, to hold...
• Section 15352.
  The commissioner may conduct a joint audit of the federal credit union with federal auditors. Upon completion of such audit, he shall issue a certificate...
• Section 15353.
  Copies of the minutes of the proceedings of the meeting of the members or the written ballot and the record of written vote of the...
• Section 15354.
  The verified copies of the minutes of the meeting or the record of written vote, when filed as required by Section 15353, are presumptive evidence...
• Section 15355.
  After an affirmative vote as provided in Section 15350, the federal credit union shall take or cause to be taken such action in the manner...
• Section 15356.
  The directors of a credit union converted from a federal credit union may insert in the articles of incorporation the following statement: “This credit union...
• Section 15357.
  Within 10 days after the filing of the articles of incorporation with the Secretary of State, there shall be filed, with the National Credit Union...
• Section 15358.
  Upon the filing of the articles of incorporation with the Secretary of State and the issuance of a certificate by the commissioner authorizing the federal...
• Section 15359.
  The converted credit union shall have, hold, and enjoy the property mentioned in Section 15358 in its own right as fully and to the same...

Last modified: October 22, 2018