California § 15257 - When a credit union has completely wound up, all of its known debts and liabiliti
Full text of California Public Contract Code - PCC § 15257 — When a credit union has completely wound up, all of its known debts and liabiliti, with citation guidance and answers to common questions.
§ 15257. When a credit union has completely wound up, all of its known debts and liabiliti
When a credit union has completely wound up, all of its known debts and liabilities actually paid or adequately provided for or paid as far as its assets permit, and its known assets distributed, a majority of the committee or the liquidating agent in charge of liquidation shall sign and acknowledge a certificate stating that the credit union has been completely wound up, its known assets distributed, any tax or penalty due under the Bank and Corporation Franchise Tax Law paid, and its other known debts and liabilities actually paid or adequately provided for or paid as far as its assets permit and that the credit union is dissolved.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 15257
What does Public Contract Code - PCC § 15257 cover?
Section 15257 ("When a credit union has completely wound up, all of its known debts and liabiliti") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 15257?
A common citation format is "Public Contract Code - PCC § 15257" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 15257 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.