Financial Code section 5701

At any regular or special meeting called to consider the conversion of an association into a federal association, in the case of a stock association, the stockholders entitled to vote and any members entitled to vote, by an affirmative majority of the votes cast in person or by proxy; and in the case of a mutual association the members, by action on a proposal approved by the members, may resolve to convert the association into a federal association.

Source: Section 5701, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=5701.­ (updated Jan. 1, 1983; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 5701's source at ca​.gov