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HomeFinancial CodeDiv. 5Ch. 6Art. 1§ 14861 Credit Union Share Issuance

§ 14861 Credit Union Share Issuance

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

§ 14861 Credit Union Share Issuance

This law says credit unions can only give shares to people who are allowed to be members, unless it's a shared account with someone who is a member.

Key Takeaways

  • •Credit unions can only give shares to members.
  • •Non-members can only get shares if it's a shared account with a member.
  • •The rules for shared accounts are in Section 14851.

Example

If your friend wants to buy shares in your credit union but isn't a member.

The credit union can't sell shares to your friend unless they become a member or you open a shared account together.

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

Official Source
View on CA.gov

§ 14861 Credit Union Share Issuance

No credit union shall issue shares to anyone not qualified for membership under its bylaws, except shares issued in coownership as provided in Section 14851. (Amended by Stats. 1980, Ch. 52, Sec. 9.)

Last verified: January 11, 2026

Key Terms

credit unionsharesmembershipbylawscoownership

Related Statutes

  • § 14851 Credit Union Share Issuance
  • § 14865 Credit Union Share Accounts
  • § 14800 Credit Union Membership Requirements
  • § 14852 Credit Union Share Transfer Fees
  • § 14853 Minor Credit Union Accounts

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14861.
View Official Source