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Code · California · Financial Code

§ 14350

79 words·~1 min read·/ca/financial-code/14350

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The commissioner shall annually levy on and collect from credit unions holding certificates authorizing them to act as credit unions, pro rata on the basis of total assets, an assessment in a total amount that is sufficient in the commissioner’s opinion to
(a)meet the expenses of the department in administering this division and other laws relating to credit unions or the credit union business that are not otherwise provided for and
(b)provide a reasonable reserve for contingencies.
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