reglab/housing_qa huggingface dataset:
CA Fin Code § 15201 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 1 - Merger|Section 15201.

15201.  (a) The merger shall be made pursuant to any plan agreed upon by the majority of the board of directors of each credit union joining in the merger, and approved by the affirmative vote of at least a majority of the members of the disappearing credit union, in person or by proxy, at a meeting of the members called for that purpose or by written consent of a majority of the members of the disappearing credit union. Notice of the meeting shall be given to the members, either personally or by first-class mail, not less than 30 nor more than 90 days prior to the date of the meeting.(b) The commissioner may approve a merger according to the plan agreed upon by the majority of the board of directors of each credit union, as set forth in subdivision (a), if the plan of merger is approved by less than a majority of the membership as provided in subdivision (a) if the commissioner finds, upon the written and verified application filed by the board of directors, that (1) notice of the meeting called to consider the merger or the ballot for written vote on the merger was mailed to each member entitled to vote upon the question, (2) the notice or ballot disclosed the purpose of the meeting or the written vote, (3) the notice or ballot informed the membership that approval of the merger might be sought pursuant to this section, and (4) a majority of the votes cast upon the question were in favor of the merger.(c) Notwithstanding subdivisions (a) and (b), the commissioner may approve a merger without a vote of the membership of the disappearing credit union if a majority of the members of the board of directors of the surviving credit union approves the merger, the disappearing credit union is in danger of insolvency and the merger would reduce the risk or avoid a threatened loss to the National Credit Union Share Insurance Fund or other form of share guaranty or insurance that is acceptable to the commissioner. For purposes of this chapter, a credit union is insolvent when, from the most recent available financial statements, it can be shown that the total amount of its shares exceeds the present cash value of its assets after providing for liabilities unless the commissioner finds all of the following:(1) The facts that caused the deficient share-asset ratio no longer exist.(2) Further decline in the share-asset ratio is not probable.(3) The return of the share-asset ratio to its normal limits within a reasonable time for the credit union concerned is probable.(4) The probability of a further potential loss is negligible to the National Credit Union Share Insurance Fund or other form of share guaranty or insurance that is acceptable to the commissioner.(Amended by Stats. 1998, Ch. 539, Sec. 41. Effective January 1, 1999.)
CA Fin Code § 15202 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 1 - Merger|Section 15202.

15202.  (a) After the requirement of approval as provided in Section 15201 is satisfied, each credit union shall execute a certificate of merger as an officers’ certificate pursuant to Section 5062 of the Corporations Code that shall set forth:(1) That the plan of merger has been approved by the board of directors.(2) That the plan of merger has been duly approved by any required vote of the members pursuant to Section 15201.(3) The total number of members of the credit union.(b) A copy of the plan of merger and of the written approval thereof by the commissioner shall be annexed to the certificate of merger. (c) Nothing in this section requires a federal credit union to execute or file the certificate of merger called for in subdivision (a).(Amended by Stats. 1998, Ch. 539, Sec. 41.3. Effective January 1, 1999.)
CA Fin Code § 15203 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 1 - Merger|Section 15203.

15203.  Each certificate of merger called for in Section 15202 shall be filed in the office of the Secretary of State. After the filing in the office of the Secretary of State, a copy of each certificate of merger, certified by the Secretary of State, shall be filed with the commissioner, and at that time the merger shall become effective for all purposes.(Amended by Stats. 1998, Ch. 539, Sec. 42. Effective January 1, 1999.)
CA Fin Code § 15204 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 1 - Merger|Section 15204.

15204.  (a) Upon any merger effectuated as provided in this article, all property, property rights, and interests of the merged credit union shall vest in the surviving credit union, without deed, endorsement or other instruments of transfer, and all debts, obligations and liabilities of the merged credit union are assumed by the surviving credit union under whose charter the merger has been effected. Thereafter the charter of the merged credit union is void, and the existence of the merged credit union as a legal entity separate from the surviving credit union terminates.(b) Whenever a credit union having any real property in this state merges with another credit union and vests that real property in the surviving credit union, the filing for record in the office of the county recorder of any county in this state in which any of the real property of the disappearing credit union is located of the certificates of merger and requisite attachments, as required by Section 15202, shall evidence record ownership in the surviving credit union of all interest of the disappearing credit union in and to the real property located in that county.(Amended by Stats. 1997, Ch. 187, Sec. 13. Effective January 1, 1998.)
CA Fin Code § 15250 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15250.

15250.  (a) Whenever the board of directors of a credit union recommends by a vote of a majority of all its members the dissolution of the credit union, the members of the credit union, at any meeting specially called to consider the subject, may elect to dissolve the credit union, by the vote or written consent of a majority of all members of the credit union.(b) The commissioner may approve the dissolution of a credit union which is recommended by the vote of a majority of the board members of the credit union, even if the dissolution is approved by less than a majority of all members of the credit union, if the commissioner finds, upon the written and verified application filed by the board of directors, that (1) notice of the meeting called to consider the dissolution or the written ballot for written vote on the dissolution was mailed to each member entitled to vote upon the question, (2) the notice or the written ballot disclosed the purpose of the meeting or the written vote and informed the membership that approval of the dissolution might be sought pursuant to this section, and (3) a majority of the votes cast upon the question were in favor of the dissolution.(c) Whenever the members of the board of directors vote to recommend the dissolution of any credit union, the credit union shall not make any loans, withdrawal of shares, or withdrawal of certificates for funds until the members approve or disapprove the recommendation of the board of directors.(Amended by Stats. 1998, Ch. 539, Sec. 43. Effective January 1, 1999.)
CA Fin Code § 15251 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15251.

15251.  If the dissolution of the credit union is approved pursuant to subdivision (a) or (b) of Section 15250, the board of directors of the credit union shall elect a committee of three members or may by resolution appoint a liquidating agent to liquidate the assets of the credit union. If the commissioner is appointed liquidating agent, the commissioner may act as liquidating agent or appoint the National Credit Union Administration or other person to act as liquidating agent. Whenever the commissioner is appointed liquidating agent, the credit union shall surrender its certificate to act as a credit union.(Amended by Stats. 1998, Ch. 539, Sec. 44. Effective January 1, 1999.)
CA Fin Code § 15252 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15252.

15252.  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.)
CA Fin Code § 15253 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15253.

15253.  After a vote to dissolve a credit union no business may be carried on by the credit union except in the proper course of liquidation.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15254 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15254.

15254.  The committee or the liquidating agent in charge of liquidation may sue in the name and on behalf of the credit union, and may sell or otherwise dispose of the assets of the credit union, in whole or in part, at public or private sale.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15255 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15255.

15255.  After determining that all known debts and liabilities of the credit union have been paid or adequately provided for, the committee or the liquidating agent in charge of liquidation shall distribute all the remaining assets of the credit union among the members or shareholders. Each share is entitled to its proportionate amount of the assets according to the amount paid on that share.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15257 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15257.

15257.  When a credit union has completely wound up, all of its known debts and liabilities actually paid or adequately provided for or paid as far as its assets permit, and its known assets distributed, a majority of the committee or the liquidating agent in charge of liquidation shall sign and acknowledge a certificate stating that the credit union has been completely wound up, its known assets distributed, any tax or penalty due under the Bank and Corporation Franchise Tax Law paid, and its other known debts and liabilities actually paid or adequately provided for or paid as far as its assets permit and that the credit union is dissolved.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15258 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15258.

15258.  The certificate of dissolution shall be filed in the office of the Secretary of State and copies, certified by him, shall be filed in the office of the commissioner.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15259 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15259.

15259.  At any time during the liquidation process, the committee or the liquidating agent in charge of liquidation may be relieved of their duties at the discretion of the commissioner and the commissioner shall thereafter act as the liquidating agent or appoint a liquidating agent to complete the dissolution of the credit union.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15260 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 2 - Dissolution|Section 15260.

15260.  Where the commissioner finds that on the date of filing with the Secretary of State of the certificate of election to wind up and dissolve, the credit union does not have sufficient assets to return to its shareholders their investment in full, the credit union shall not be liable for the costs of administration assessed under Article 4 (commencing with Section 14350) of Chapter 3.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15300 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15300.

15300.  A credit union may convert itself into a federal credit union by following the procedure contained in this article.(Repealed and added by Stats. 1979, Ch. 112.)
CA Fin Code § 15301 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15301.

15301.  Upon recommendation of the board of directors the members of any credit union may by an affirmative majority vote of such members resolve to convert such credit union into a federal credit union. For the purposes of this article, an “affirmative majority vote of such members” means that the vote by the members to convert the credit union into a federal credit union is approved or ratified by the affirmative vote of a majority of the votes represented and voting at a duly held meeting at which a quorum is present (which affirmative votes also constitute a majority of the required quorum) or written ballot in conformity with Section 7513 of the Corporations Code or by the affirmative vote or written ballot as may be provided in the bylaws pursuant to subdivision (e) of Section 7151 of the Corporations Code.(Amended by Stats. 1993, Ch. 399, Sec. 2. Effective January 1, 1994.)
CA Fin Code § 15302 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15302.

15302.  Within 10 days after the meeting or written vote at which the members determine to convert into a federal credit union, the credit union shall file with the commissioner a certificate verified by the board of directors of such credit union. The certificate shall contain a copy of the minutes of the meeting or a copy of the written ballot and the results of the written vote and a statement that the members have approved the determination to convert such credit union into a federal credit union. A copy of such certificate shall be filed with the Secretary of State.(Amended by Stats. 1980, Ch. 413, Sec. 6.)
CA Fin Code § 15303 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15303.

15303.  A certified copy of the certificate required by Section 15302 filed in the office of the Secretary of State is presumptive evidence of the holding of the meeting or written vote and the action taken thereat.(Amended by Stats. 1980, Ch. 413, Sec. 7.)
CA Fin Code § 15304 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15304.

15304.  After the meeting or the written vote of the members, the credit union shall take such action as is necessary to make it a federal credit union, and within 10 days after receipt of the federal charter, the credit union shall file with the commissioner and with the Secretary of State, a copy of the charter issued to such credit union by the National Credit Union Administration or a certificate showing the organization of such credit union as a federal credit union certified by or on behalf of the National Credit Union Administration. Upon the filing of such instrument with the Secretary of State the credit union ceases to be a state credit union and is a federal credit union.(Amended by Stats. 1980, Ch. 413, Sec. 8.)
CA Fin Code § 15305 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15305.

15305.  At the time the conversion into a federal credit union becomes effective, the credit union ceases to be supervised by this state and all of the property of the credit union, including all of its right, title, and interest in and to all property of every kind and character immediately, by operation of law and without any conveyance, or transfer and without any further act or deed, is vested in the credit union under its new name and style as a federal credit union and under its new jurisdiction.(Repealed and added by Stats. 1979, Ch. 112.)
CA Fin Code § 15306 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 3 - Conversion Into Federal Credit Unions|Section 15306.

15306.  The converted federal credit union shall have, hold, and enjoy the property mentioned in Section 15305 in its own right as fully and to the same extent as the property was possessed, held, and enjoyed by it as a state credit union and the federal credit union shall continue responsible for all of the obligations of the state credit union to the same extent as though the conversion had not taken place. The federal credit union shall be merely a continuation of the state credit union under a new name and new jurisdiction and such revision of its corporate structure as is considered necessary for its proper operation under the new jurisdiction.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15350 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15350.

15350.  Upon recommendation of its board of directors, any federal credit union may convert into a credit union under the laws of this state by complying with the requirements of the Federal Credit Union Act (12 U.S.C. Sec. 1771) and on obtaining a certificate pursuant to Chapter 2 (commencing with Section 14100) of this division.(Amended by Stats. 1981, Ch. 765, Sec. 4.)
CA Fin Code § 15351 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15351.

15351.  The officers and directors of the federal credit union shall be the officers and directors of the credit union after conversion takes effect, to hold office until their successors are elected and qualified.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15352 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15352.

15352.  The commissioner may conduct a joint audit of the federal credit union with federal auditors. Upon completion of such audit, he shall issue a certificate to the National Credit Union Administration showing the results of such audit. The commissioner may also certify that the transfer of the assets and liabilities from the federal credit union to a credit union subject to the laws of this state has been effected in compliance with the applicable laws of this state. The costs of the audit mentioned in this section shall constitute a charge against the credit union.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15353 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15353.

15353.  Copies of the minutes of the proceedings of the meeting of the members or the written ballot and the record of written vote of the members in which they voted to convert into a state credit union, verified by the board of directors of the credit union, shall be filed within 10 days after the meeting or written vote with the commissioner, and, in duplicate, with the National Credit Union Administration.(Amended by Stats. 1980, Ch. 413, Sec. 9.)
CA Fin Code § 15354 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15354.

15354.  The verified copies of the minutes of the meeting or the record of written vote, when filed as required by Section 15353, are presumptive evidence of the holding of, and the action taken at, the meeting or the written vote.(Amended by Stats. 1980, Ch. 413, Sec. 10.)
CA Fin Code § 15355 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15355.

15355.  After an affirmative vote as provided in Section 15350, the federal credit union shall take or cause to be taken such action in the manner prescribed and authorized by this division as shall make it a credit union of this state. The directors shall file the documents and take such proceedings as are required by this division in the case of the original incorporation of a credit union.(Amended by Stats. 1979, Ch. 811.)
CA Fin Code § 15356 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15356.

15356.  The directors of a credit union converted from a federal credit union may insert in the articles of incorporation the following statement: “This credit union is incorporated by conversion from a federal credit union.”(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15357 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15357.

15357.  Within 10 days after the filing of the articles of incorporation with the Secretary of State, there shall be filed, with the National Credit Union Administration, two copies of the articles of incorporation, certified by the Secretary of State.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 15358 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 4 - Conversion of Federal Credit Union|Section 15358.

15358.  Upon the filing of the articles of incorporation with the Secretary of State and the issuance of a certificate by the commissioner authorizing the federal credit union to act as a credit union under the laws of this state, the credit union ceases to be a federal credit union and is a credit union under the laws of this state. All of the property of the credit union immediately, by operation of law and without any further act, is vested in the credit union under its new name and existence as a credit union under the laws of this state.(Amended by Stats. 1981, Ch. 765, Sec. 5.)