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HomeFinancial CodeDiv. 5Ch. 5§ 14804 Credit Union Annual Meetings

§ 14804 Credit Union Annual Meetings

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

§ 14804 Credit Union Annual Meetings

This law says that credit union members must meet each year to elect leaders and that the meeting details are set by the credit union's rules, and it also allows meetings to be held online if the rules permit.

Key Takeaways

  • •Members must have a yearly meeting to choose directors, a supervisory committee, and possibly a credit committee.
  • •The meeting's date, time, place, and notice are decided by the credit union's own bylaws.
  • •Meetings can be conducted partly or fully online unless the credit union's articles or bylaws say otherwise.

Example

A credit union member wants to vote for the board of directors and other committee members.

The credit union schedules its yearly member meeting, sends out notice as its bylaws require, and holds the meeting either in person or online so members can elect the board, the supervisory committee, and any credit committee.

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

Official Source
View on CA.gov

§ 14804 Credit Union Annual Meetings

(a) (1) The members of a credit union shall hold an annual meeting for the election of all of the following: (A) Directors. (B) A supervisory committee, unless the board of directors has appointed an audit committee pursuant to Section 14556. (C) A credit committee, if provided for in its bylaws. (2) An annual meeting required by this subdivision shall be held at a time and place, and upon notice, as the bylaws provide. (b) Unless prohibited by the articles or bylaws of the credit union, a regular or special meeting of the members, including an annual meeting, may be conducted, in whole or in part, by means of remote communication as set forth in subdivision (f) of Section 7510 of the Corporations Code. (Amended by Stats. 2024, Ch. 305, Sec. 7. (AB 2062) Effective January 1, 2025.)

Last verified: January 11, 2026

Key Terms

annual meetingdirectorssupervisory committeeaudit committeecredit committeebylawsremote communication

Related Statutes

  • § 1171 Bank Trust Company Board Size
  • § 14800 Credit Union Membership Requirements
  • § 14805 Credit Union Member Meetings
  • § 14812 Member Meeting Quorum Rules
  • § 4922 Conversion Articles Bylaws Approval

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14804.
View Official Source