Statute · California Financial Code
Cal. Fin. Code § 15301 — Conversion Into Federal Credit Unions
Cal. Fin. Code § 15301
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 1994-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Upon recommendation of the board of directors the members of any credit union may by an affirmative majority vote of such members resolve to convert such credit union into a federal credit union. For the purposes of this article, an “affirmative majority vote of such members” means that the vote…
Citator
Cal. Fin. Code § 15301 — Conversion Into Federal Credit Unions is in force in the current edition of the Code, and nothing recorded condemns it.
Upon recommendation of the board of directors the members of any credit union may by an affirmative majority vote of such members resolve to convert such credit union into a federal credit union. For the purposes of this article, an “affirmative majority vote of such members” means that the vote by the members to convert the credit union into a federal credit union is approved or ratified by the affirmative vote of a majority of the votes represented and voting at a duly held meeting at which a quorum is present (which affirmative votes also constitute a majority of the required quorum) or written ballot in conformity with Section 7513 of the Corporations Code or by the affirmative vote or written ballot as may be provided in the bylaws pursuant to subdivision (e) of Section 7151 of the Corporations Code.