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DIVISION 2. SAVINGS ASSOCIATION LAW 5000-10009›CHAPTER 1. Short Title, General Definitions, and General Provisions 5000-5330›ARTICLE 2. General Definitions 5100-5124

§ 5101

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

“Approved by the members,” in the case of a mutual association, means approved by a majority of all votes cast at a duly held regular or special meeting or by the written consent (including consents by proxy) of a majority of the total votes of members outstanding at the close of business on the next business day prior to the date that the requisite written consents have been filed with the association.

(Added by Stats. 1983, Ch. 1091, Sec. 2.)

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California Financial Code

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