ARTICLE 3. Conversion Into Federal Credit Unions

Article 3 added by Stats. 1979, Ch. 112.

§§ 15300–15306 · 7 sections

• § 15300 A credit union may convert itself into a federal credit union by following the procedure contained in this article.
• § 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 such…
• § 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 file with the…
• § 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 of the…
• § 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 credit union, and within 10…
• § 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 the property of the…
• § 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 same extent as the…