§ 14865 Credit Union Share Accounts

Financial Code·California

AI SummaryVerified

This law says credit unions must show how much money a member has in shares, not how many shares they own. There's no limit to how many shares a credit union can give out.

Key Takeaways

•Credit unions show your money as dollars, not shares.
•They can give out as many shares as they want.
•Your shares might also be called a 'share account'.

Example

You open a savings account at a credit union.

The credit union will tell you how much money you have in your account, not how many shares you own. They can give out as many shares as they want to other members too.

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

Official Source

View on CA.gov

§ 14865 Credit Union Share Accounts

Shares issued by a credit union to a member shall be evidenced in monetary amounts rather than by numbers of shares. The shares owned by a member also may be referred to as a “share account”. There shall be no limit to the amount of shares which a credit union may issue. (Added by Stats. 1980, Ch. 321, Sec. 14.)

Last verified: January 11, 2026

Key Terms

shares share account credit union

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14865.

Key Takeaways

Example

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References

Key Takeaways

Example

Key Terms

Related Statutes

References