The evidence of credit union shares issued shall be a certificate, a passbook, a statement or other evidence approved by regulation of the commissioner. The evidence of any credit union shares shall not constitute an “investment security” under Division 8 (commencing with Section 8101) of the Commercial Code.
Cal. Fin. Code § 14866
General
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Amended by Stats. 1983, Ch. 89, Sec. 8.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.