ARTICLE 2. Dissolution [15250. - 15260.]

Article 2 added by Stats. 1979, Ch. 112.

§§ 15250–15260 · 10 sections

• § 15250 (a) Whenever the board of directors of a credit union recommends by a vote of a majority of all its members the dissolution of the credit union, the members of…
• § 15251 If the dissolution of the credit union is approved pursuant to subdivision (a) or (b) of Section 15250, the board of directors of the credit union shall elect…
• § 15252 Promptly thereafter the president or vice president and secretary or assistant secretary, or a majority of the committee or the liquidating agent in charge of…
• § 15253 After a vote to dissolve a credit union no business may be carried on by the credit union except in the proper course of liquidation.
• § 15254 The committee or the liquidating agent in charge of liquidation may sue in the name and on behalf of the credit union, and may sell or otherwise dispose of the…
• § 15255 After determining that all known debts and liabilities of the credit union have been paid or adequately provided for, the committee or the liquidating agent in…
• § 15257 When a credit union has completely wound up, all of its known debts and liabilities actually paid or adequately provided for or paid as far as its assets…
• § 15258 The certificate of dissolution shall be filed in the office of the Secretary of State and copies, certified by him, shall be filed in the office of the…
• § 15259 At any time during the liquidation process, the committee or the liquidating agent in charge of liquidation may be relieved of their duties at the discretion…
• § 15260 Where the commissioner finds that on the date of filing with the Secretary of State of the certificate of election to wind up and dissolve, the credit union…