No membership shares, certificates for funds or other securities shall be issued by any credit union until it has applied for and obtained from the commissioner a certificate authorizing it to act as a credit union.
Cal. Fin. Code § 14150
Certificate to Act as a Credit Union
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Added by Stats. 1979, Ch. 112.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.