Section 14002.5 Of Article 1. Definitions From California Financial Code >> Division 5. >> Chapter 1. >> Article 1.
14002.5
. (a) Except as provided in subdivision (b), all provisions
of law applicable to nonprofit mutual benefit corporations generally
(including, but not limited to, the Nonprofit Mutual Benefit
Corporation Law (Part 3 (commencing with Section 7110) of Division 2
of Title 1 of the Corporations Code)) shall apply to credit unions.
However, whenever any provision of this division applicable to credit
unions is inconsistent with any provision of law applicable to
nonprofit mutual benefit corporations generally, the provision of
this division shall apply and the inconsistent provision of law
applicable to nonprofit mutual benefit corporations generally shall
not apply to a credit union.
(b) Notwithstanding the provisions of subdivision (a), the
following provisions of the Corporations Code are not applicable to
credit unions:
(1) Section 7131.
(2) Subdivision (a) of Section 7132.
(3) Section 7142.
(4) Subdivision (c) of Section 7223.
(5) Subdivision (c) of Section 7225.
(6) Article 4 (commencing with Section 7240) of Chapter 2 of Part
3 of Title 1.
(7) Chapter 11 (commencing with Section 8110) of Part 3 of
Division 2 of Title 1.
(8) Chapter 16 (commencing with Section 8610) of Part 3 of
Division 2 of Title 1.
(9) Chapter 17 (commencing with Section 8710) of Part 3 of
Division 2 of Title 1.