California Statutes
§ 5850. — 5850. (Added by Stats. 1983, Ch. 1091, Sec. 2.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 2. CHAPTER 2. Corporate Organization and Corporate Changes·Art. 9. ARTICLE 9. Dissolution
(a)An association may dissolve pursuant to the General Corporation Law (Division 1 (commencing with Section 100) of Title 1 of the Corporations Code).
(b)In the case of a mutual association, the required vote of members to elect voluntarily to wind up and dissolve shall be by members representing 50 percent or more of the voting power required to elect directors of the association.
(c)No certificate of election to dissolve or certificate of dissolution of an association shall be filed with the Secretary
of State unless there is attached thereto the certificate of the commissioner approving the same.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 5850. (5850. (Added by Stats. 1983, Ch. 1091, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1983, Ch. 1091, Sec. 2.