(a) Credit unions shall be incorporated under the Nonprofit Mutual Benefit Corporation Law of this state.
(b) The Secretary of State shall not file the articles of incorporation of a credit union organized pursuant to subdivision (a) unless the approval of the commissioner is endorsed thereon.
(c) The Secretary of State shall not file articles of incorporation setting forth a name in which “credit union” or related words appear unless the approval of the commissioner is attached. This section shall not apply to the articles of any corporation subject to the California Credit Union Law on which the approval of the commissioner is endorsed.
(Amended by Stats. 2002, Ch. 734, Sec. 6. Effective September 20, 2002.)