Home/California/Statutes/Code FIN: Financial Code - FIN/Div. 5.: DIVISION 5. CREDIT UNIONS/Ch. 9.: CHAPTER 9. Merger, Dissolution and Conversion/Art. 2.: ARTICLE 2. Dissolution/§ 15251.
California Statutes

§ 15251. — 15251. (Amended by Stats. 1998, Ch. 539, Sec. 44.)

California § 15251.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 5.DIVISION 5. CREDIT UNIONS
Ch. 9.CHAPTER 9. Merger, Dissolution and Conversion
Art. 2.ARTICLE 2. Dissolution

This text of California § 15251. (15251. (Amended by Stats. 1998, Ch. 539, Sec. 44.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Cal. Financial Code - FIN Code § 15251. (2026).

Text

If the dissolution of the credit union is approved pursuant to subdivision (a) or (b) of Section 15250, the board of directors of the credit union shall elect a committee of three members or may by resolution appoint a liquidating agent to liquidate the assets of the credit union. If the commissioner is appointed liquidating agent, the commissioner may act as liquidating agent or appoint the National Credit Union Administration or other person to act as liquidating agent. Whenever the commissioner is appointed liquidating agent, the credit union shall surrender its certificate to act as a credit union.

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Legislative History

Amended by Stats. 1998, Ch. 539, Sec. 44. Effective January 1, 1999.
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California § 15251., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/15251..