ARTICLE 4. Conversion of Federal Credit Union [15350. - 15359.]

Article 4 added by Stats. 1979, Ch. 112.

§§ 15350–15359 · 10 sections

• § 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 with the…
• § 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 office…
• § 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 to…
• § 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 members in which they voted…
• § 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 of the…
• § 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 prescribed and…
• § 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…
• § 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…
• § 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…
• § 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 extent as the property…