14150. No membership shares, certificates for funds or other securities shall be issued by any credit union until it has applied for and obtained from the commissioner a certificate authorizing it to act as a credit union.(Added by Stats. 1979, Ch. 112.)
California Legal Code
§ 14150
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=5.&title=&part=&chapter=2.&article=2.· Version 2026