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Section 14101.4 Of Article 1. Incorporation And Bylaws From California Financial Code >> Division 5. >> Chapter 2. >> Article 1.
14101.4
. (a) The provisions of Section 14101, except as provided in
subdivision (b) of that section, shall not apply to a credit union
organized prior to January 1, 1981, but the articles of the credit
union shall continue to be governed by the law applicable as of
December 31, 1980, until an amendment of its articles pursuant to
subdivision (b).
(b) Except as provided in subdivision (b) of Section 14101, a credit union organized prior to January 1, 1981, may amend its articles to conform to Section 14101 except that an initial agent for service of process shall not be set forth and the names and addresses of initial directors shall be deleted. The amendment may be adopted by the board of directors alone.
(b) Except as provided in subdivision (b) of Section 14101, a credit union organized prior to January 1, 1981, may amend its articles to conform to Section 14101 except that an initial agent for service of process shall not be set forth and the names and addresses of initial directors shall be deleted. The amendment may be adopted by the board of directors alone.
