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HomeFinancial CodeDiv. 5Ch. 2Art. 1§ 14100 Credit Union Incorporation Rules

§ 14100 Credit Union Incorporation Rules

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14100 Credit Union Incorporation Rules

This law says credit unions must be set up as special non-profit groups and need approval from the state before they can start.

Key Takeaways

  • •Credit unions must be non-profit groups.
  • •They need approval from a state official to start.
  • •The name 'credit union' can’t be used without approval.

Example

A group of people want to start a credit union to help their community save money.

They have to follow special rules to create it, and the state won’t let them start unless a special official says it’s okay.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 14100 Credit Union Incorporation Rules

(a) Credit unions shall be incorporated under the Nonprofit Mutual Benefit Corporation Law of this state. (b) The Secretary of State shall not file the articles of incorporation of a credit union organized pursuant to subdivision (a) unless the approval of the commissioner is endorsed thereon. (c) The Secretary of State shall not file articles of incorporation setting forth a name in which “credit union” or related words appear unless the approval of the commissioner is attached. This section shall not apply to the articles of any corporation subject to the California Credit Union Law on which the approval of the commissioner is endorsed. (Amended by Stats. 2002, Ch. 734, Sec. 6. Effective September 20, 2002.)

Last verified: January 11, 2026

Key Terms

Nonprofit Mutual Benefit Corporation Lawarticles of incorporationcommissionercredit union

Related Statutes

  • § 14101 Credit Union Articles Requirements
  • § 14102.4 Credit Union Correction Filing
  • § 18101 Industrial Loan Company Approval
  • § 18101.5 Name Reservation For Corporations
  • § 100004 Debt Collection License Investigations

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14100.
View Official Source