California Code
DIVISION 5 - CREDIT UNIONS
CHAPTER 4 - Management and Operations

ARTICLE 1 - General

Section 14400. - 14400. The equity capital of the credit union shall consist...

Section 14401. - 14401. A credit union may borrow money from any source...

Section 14402. - 14402. Every credit union may purchase and hold, either individually...

Section 14403. - 14403. Every credit union may purchase and hold, either individually...

Section 14404. - 14404. A credit union shall not invest more than the...

Section 14405. - 14405. Every credit union may: (a) (1) Become a member...

Section 14406. - 14406. The savings capital, undivided profits, and reserve funds of...

Section 14407. - 14407. (a) Whenever the losses of any credit union resulting...

Section 14408. - 14408. No credit union shall make any gift or donation...

Section 14409. - 14409. (a) Every credit union shall obtain adequate bond or...

Section 14409.2. - 14409.2. (a) Notwithstanding the provisions of Sections 1051, 1052, and...

Section 14410. - 14410. (a) (1) A member of the board of directors,...

ARTICLE 2 - Directors

Section 14450. - 14450. The credit union shall be directed by a board...

Section 14451. - 14451. Directors may be elected for a term of three...

Section 14452. - 14452. The office of any director shall be declared vacant...

Section 14452.5. - 14452.5. A vacancy on the board of directors shall be...

Section 14453. - 14453. The board of directors of every credit union shall...

Section 14454. - 14454. The directors shall hold a meeting of all directors...

Section 14456. - 14456. Unless the bylaws expressly reserve any or all of...

ARTICLE 3 - Officers

Section 14500. - 14500. (a) The officers of every credit union shall include...

Section 14501. - 14501. If the bylaws so provide, the directors may elect...

Section 14502. - 14502. The powers and duties of the officers of any...

ARTICLE 4 - Supervisory Committee

Section 14550. - 14550. Every credit union shall have a supervisory committee of...

Section 14551. - 14551. The supervisory committee may: (a) Suspend at any time...

Section 14551.5. - 14551.5. The supervisory committee shall be responsible for reviewing the...

Section 14552. - 14552. The supervisory committee shall, within seven days after suspension...

Section 14553. - 14553. (a) The supervisory committee shall at least once each...

Section 14554. - 14554. No member of the supervisory committee shall serve as...

Section 14555. - 14555. The commissioner may, after investigation and finding that the...

Section 14556. - 14556. (a) The board of directors may, by resolution, establish...

ARTICLE 5 - Credit Committee and Loan Officers

Section 14600. - 14600. Every credit union shall have a credit committee of...

Section 14601. - 14601. No member of the credit committee or the credit...

Section 14602. - 14602. (a) (1) No credit union shall create any obligation...

Section 14603. - 14603. The credit committee, the credit manager, or a loan...

Section 14604. - 14604. A credit union member whose written application to enter...

Section 14605. - 14605. A credit manager shall not disburse or have the...

ARTICLE 6 - Investments

Section 14650. - 14650. Subject to the limitations of Sections 14402, 14403, and...

Section 14651. - 14651. (a) Every credit union may invest in the shares...

Section 14652. - 14652. Every credit union may invest in securities and other...

Section 14652.5. - 14652.5. A credit union may organize, sponsor, operate, control, or...

Section 14653. - 14653. Credit unions may invest in a trust organized solely...

Section 14653.5. - 14653.5. Notwithstanding any other provision of law, a credit union...

Section 14654. - 14654. Credit unions may purchase from the vendor or lessor...

Section 14656. - 14656. A credit union may, in accordance with rules and...

Section 14657. - 14657. (a) A credit union may invest in charitable donation...

Section 14659. - 14659. (a) A credit union that is investing to fund...

ARTICLE 7 - Reserves

Section 14700. - 14700. Every credit union shall create and maintain a regular...

Section 14701. - 14701. Losses incurred by a credit union may be charged...

Section 14702. - 14702. In addition to the regular reserve, special reserves shall...

Section 14703. - 14703. A credit union shall establish and maintain an allowance-for-loan-losses...

ARTICLE 8 - Penalties

Section 14750. - 14750. Except as provided in Section 14950, any officer, director,...

Section 14751. - 14751. Any officer, director, member of a committee, credit manager,...

Section 14752. - 14752. Except as provided for in Section 14051 and this...

Section 14753. - 14753. Any director, officer, or employee of a credit union...

Section 14754. - 14754. Any director, officer, or employee of a credit union...

Section 14755. - 14755. Any director, officer, agent, or employee of any credit...

Section 14756. - 14756. Any director, officer, agent, or employee of a credit...

Section 14758. - 14758. Any director, officer, or employee of a credit union...

Section 14759. - 14759. Any officer, director, employee, or agent of any credit...

Section 14760. - 14760. (a) Every director of a credit union is guilty...

Section 14761. - 14761. Any officer or agent of any credit union who...

Section 14762. - 14762. A director of a credit union who concurs in...

Section 14763. - 14763. Any officer or employee of any credit union who...

Section 14764. - 14764. No credit union shall purchase any real or personal...

Section 14765. - 14765. No officer, director, or employee of a credit union...

Section 14766. - 14766. No officer, director, or employee of a credit union,...

Section 14767. - 14767. It is unlawful for any person willfully to make...

Section 14768. - 14768. Any officer, director, employee, or agent of any credit...