Every credit union may cancel the shares of any member who withdraws or is expelled, and apply the value of the shares to the liquidation of the member’s indebtedness to the credit union.
Cal. Fin. Code § 14857
General
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.