§ 15255
63 words·~1 min read·
/ca/financial-code/15255A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
After determining that all known debts and liabilities of the credit union have been paid or adequately provided for, the committee or the liquidating agent in charge of liquidation shall distribute all the remaining assets of the credit union among the members or shareholders. Each share is entitled to its proportionate amount of the assets according to the amount paid on that share.