Considering a Credit Union Merger in California? The California DBO has Changed the Rules (Again)!

By Styskal, Wiese & Melchione

February 14, 2017

As part of the continued restructuring process of mergers, the Department of Business Oversight is now changing processes to be in line with the banking side.

  • Process: All applications will go to the legal department for review and comment
  • Legal: We have seen a complete review (overhaul?) of the process, procedure and forms
  • Forms: Each form, even if previously submitted, will likely result in changes 
  • Technical issues: Three (3) original Certificates of Merger are now required as well as a new filing step with the DBO after the member vote (but before filing with the California Secretary of State).
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