Financial Code § 6003

ARTICLE 1. Meetings of Members of Mutual Associations

Current as of September 28, 2026Fin. Code, § 6003Official source ↗

Amended by Stats. 1984, Ch. 287, Sec. 14.7. Effective July 6, 1984.

In the consideration of all questions requiring action by the members of a mutual association, each member shall be entitled to cast one vote for each one hundred dollars ($100), or fraction thereof, of the withdrawal value of his or her savings account or accounts. No member, however, shall be entitled to cast more than 1,000 votes nor shall votes be cumulated for the election of directors.