California Financial Code 14865 – Shares issued by a credit union to a member shall be evidenced in …
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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.)