Statute · California Financial Code

Cal. Fin. Code § 14101 — Incorporation and Bylaws

Cal. Fin. Code § 14101

Type
Statute
Source
California Financial Code
Jurisdiction
California
Date
2013-01-01
Current through
Nov 2, 2026 (California Legislative Counsel)

The articles of incorporation of every credit union shall set forth the following:

Citator

Cal. Fin. Code § 14101 — Incorporation and Bylaws is in force in the current edition of the Code, and nothing recorded condemns it.

The articles of incorporation of every credit union shall set forth the following:

(a) The name of the corporation, which shall include the phrase “credit union.”

(b) (1) The following statement:

The purpose of the corporation is to engage in credit union business and any other lawful activities which are not prohibited to a credit union by applicable laws or regulations.

(2) By December 31, 2003, each credit union that immediately prior to the enactment of this section was authorized to operate as a credit union shall amend its articles to comply with the provisions of paragraph (1). Notwithstanding Section 7813.5 of the Corporations Code, the amendment of the articles of a credit union as required by paragraph (1) may be adopted by approval of the board alone.

(c) The name and street address in this state of the corporation’s initial agent for service of process in accordance with subdivision (b) of Section 8210 of the Corporations Code.

(d) The names and addresses of five or more persons appointed to act as initial directors.

(e) The street address of the corporation.

(f) The mailing address of the corporation, if different from the street address.