California Financial Code

§ 14456

FIN § 14456 Effective Jan 1, 2025Div. 5 · Ch. 4 · Art. 2

Statute text

Unless the bylaws expressly reserve any or all of the following duties to the members, the directors have all of the following special duties:

(a)(1) To act upon all applications for membership. The directors may delegate the power to approve applications for new membership to either of the following, pursuant to a written membership plan adopted by the board of directors:

(A)The chairperson of a membership committee or an executive committee.

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Legislative history

Amended by Stats. 2024, Ch. 305, Sec. 3. (AB 2062) Effective January 1, 2025.