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HomeFinancial CodeDiv. 5Ch. 9Art. 2§ 15252 Credit Union Dissolution Certificate

§ 15252 Credit Union Dissolution Certificate

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

§ 15252 Credit Union Dissolution Certificate

This law tells credit unions how to officially close down by having their leaders sign a certificate that shows members voted to dissolve, and then file that certificate with the state.

Key Takeaways

  • •Leaders or a majority must sign a dissolution certificate.
  • •The certificate must prove the vote or consent that led to closing.
  • •The signed certificate is filed with the Secretary of State and a copy goes to the commissioner.

Example

A credit union decides to shut its doors after members vote to dissolve it.

The board signs a paper confirming the vote, files it with the Secretary of State, and sends a copy to the state commissioner.

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

Official Source
View on CA.gov

§ 15252 Credit Union Dissolution Certificate

Promptly thereafter the president or vice president and secretary or assistant secretary, or a majority of the committee or the liquidating agent in charge of liquidation, shall sign and verify a certificate stating that the credit union has elected to wind up and dissolve and showing by what vote or consent such election was made. The certificate shall be filed in the office of the Secretary of State, and copies of the certificate certified by the Secretary of State shall be filed with the commissioner. (Amended by Stats. 1981, Ch. 862, Sec. 4.)

Last verified: January 11, 2026

Key Terms

certificatedissolveSecretary of Statecommissioner

Related Statutes

  • § 15258 Dissolution Certificate Filing
  • § 15302 Credit Union Conversion Filing
  • § 15203 Merger Certificate Filing Requirements
  • § 15253 Credit Union Dissolution Rules
  • § 15257 Credit Union Dissolution Certificate

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 15252.
View Official Source