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Earlier editions: 2020-112018-11

DIVISION 2. SAVINGS ASSOCIATION LAW 5000-10009›CHAPTER 3. Corporate Administration 6000-6477›ARTICLE 1. Meetings of Members of Mutual Associations 6000-6006

§ 6003

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

In the consideration of all questions requiring action by the members of a mutual association, each member shall be entitled to cast one vote for each one hundred dollars ($100), or fraction thereof, of the withdrawal value of his or her savings account or accounts. No member, however, shall be entitled to cast more than 1,000 votes nor shall votes be cumulated for the election of directors.

(Amended by Stats. 1984, Ch. 287, Sec. 14.7. Effective July 6, 1984.)

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California Financial Code

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