Cal. Fin. Code § 14651

Current through the 2024 Legislative Session.
Section 14651 - [Effective Until 1/1/2025] Shares of corporation or economic interests of limited liability company providing services to credit union
(a) Every credit union may invest in the shares of stock of a corporation, or in membership or economic interests of a limited liability company, organized solely for the purpose of providing services to credit unions, provided the corporation or limited liability company is formed by a credit union or group of credit unions.
(b) Every credit union may invest in the securities of a corporation or in membership or economic interests of a limited liability company that is not a corporation or limited liability company of the type described in subdivision (a) and that provides services to credit unions, provided the investment is approved by the commissioner.

Ca. Fin. Code § 14651

Amended by Stats. 1998, Ch. 539, Sec. 25.3. Effective January 1, 1999.
This section is set out more than once due to postponed, multiple, or conflicting amendments.