There is a newer version
of
this Section
2020 California Code
Financial Code - FIN
DIVISION 5 - CREDIT UNIONS
CHAPTER 4 - Management and Operations
ARTICLE 6 - Investments
Section 14651.
Universal Citation: CA Fin Code § 14651 (2020)
14651.
(a) Every credit union may invest in the shares of stock of a corporation, or in membership or economic interests of a limited liability company, organized solely for the purpose of providing services to credit unions, provided the corporation or limited liability company is formed by a credit union or group of credit unions.
(b) Every credit union may invest in the securities of a corporation or in membership or economic interests of a limited liability company that is not a corporation or limited liability company of the type described in subdivision (a) and that provides services to credit unions, provided the investment is approved by the commissioner.
(Amended by Stats. 1998, Ch. 539, Sec. 25.3. Effective January 1, 1999.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
