§ 5711 Conversion Meeting Minutes Filing

Key Takeaways

•If a group of people who own a company decide to change it into a different kind of company (like a bank), they need to write down what they talked about in their meeting.
•The person in charge (like the president) and the person who takes notes (like the secretary) must sign this paper to say it's true.
•They have to send this paper to two places: one to the state office and another to the big bank they work with.

Example

Imagine you and your friends own a small lemonade stand, and you all decide to turn it into a big lemonade company.

You would write down what everyone agreed to in your meeting, have the leader and the note-taker sign it, and then send copies to the state office and the big bank you work with.

Copies of the minutes of the proceedings of the meeting of the stockholders or members in which they vote to convert into an association, verified by the president or vice president and the secretary or an assistant secretary, shall be filed promptly after the meeting in the office of the commissioner, and, in duplicate, with the federal home loan bank of which the association is a member. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

Key Takeaways

•If a group of people who own a company decide to change it into a different kind of company (like a bank), they need to write down what they talked about in their meeting.
•The person in charge (like the president) and the person who takes notes (like the secretary) must sign this paper to say it's true.
•They have to send this paper to two places: one to the state office and another to the big bank they work with.

Example

Imagine you and your friends own a small lemonade stand, and you all decide to turn it into a big lemonade company.

You would write down what everyone agreed to in your meeting, have the leader and the note-taker sign it, and then send copies to the state office and the big bank you work with.

Key Takeaways

Example

Key Terms

References

§ 5711 Conversion Meeting Minutes Filing

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References