§ 14101. — 14101. (Amended by Stats. 2012, Ch. 494, Sec. 53.)

California § 14101.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 5.: DIVISION 5. CREDIT UNIONS
• Ch. 2.: CHAPTER 2. Formation
• Art. 1.: ARTICLE 1. Incorporation and Bylaws

Text

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.

Legislative History

Amended by Stats. 2012, Ch. 494, Sec. 53. (SB 1532) Effective January 1, 2013.