Amounts paid or credited by a credit union to its members or depositors on or before the 30th day after the close of its income year shall be deemed for all purposes as paid or credited by the credit union upon the last day of the income year. This section is applicable only to credit unions as entities and does not apply to the members or depositors thereof.
Cal. Fin. Code § 14905
Dividends
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Added by renumbering Section 14907 by Stats. 1984, Ch. 303, Sec. 9.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.