California Financial Code

§ 14406

FIN § 14406 Effective Jan 1, 2025Div. 5 · Ch. 4 · Art. 1

The savings capital, as defined in Section 14400, undivided profits, and reserve funds of a credit union shall be deposited only in the following:

(a)Commercial banks or trust companies, incorporated under the laws of this state.

(b)National banks doing business in this state.

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Legislative history

Amended by Stats. 2024, Ch. 305, Sec. 2. (AB 2062) Effective January 1, 2025.