Upon recommendation of its board of directors, any federal credit union may convert into a credit union under the laws of this state by complying with the requirements of the Federal Credit Union Act (12 U.S.C. Sec. 1771) and on obtaining a certificate pursuant to Chapter 2 (commencing with Section 14100) of this division.
Cal. Fin. Code § 15350
Conversion of Federal Credit Union
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Amended by Stats. 1981, Ch. 765, Sec. 4.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.