California Financial Code

§ 14101.4

FIN § 14101.4 Effective Sep 20, 2002Div. 5 · Ch. 2 · Art. 1

Statute text

(a)The provisions of Section 14101, except as provided in subdivision (b) of that section, shall not apply to a credit union organized prior to January 1, 1981, but the articles of the credit union shall continue to be governed by the law applicable as of December 31, 1980, until an amendment of its articles pursuant to subdivision (b).

(b)Except as provided in subdivision (b) of Section 14101, a credit union organized prior to January 1, 1981, may amend its articles to conform to Section 14101 except that an initial agent for service of process shall not be set forth and the names and addresses of initial directors shall be deleted. The amendment may be adopted by the board of directors alone.

Legislative history

Amended by Stats. 2002, Ch. 734, Sec. 9. Effective September 20, 2002.