reglab/housing_qa huggingface dataset:
CA Fin Code § 14866 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14866.

14866.  The evidence of credit union shares issued shall be a certificate, a passbook, a statement or other evidence approved by regulation of the commissioner. The evidence of any credit union shares shall not constitute an “investment security” under Division 8 (commencing with Section 8101) of the Commercial Code.(Amended by Stats. 1983, Ch. 89, Sec. 8.)
CA Fin Code § 14867 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14867.

14867.  (a) Shares, including special shares, and certificates for funds may be withdrawn for payment to the owner or for any third party, in the manner and in accordance with written procedures which shall be established by the board of directors.(b) The board of directors may waive any requirement of notice of intent to withdraw or provide that there is no requirement of notice of intent to withdraw or to transfer funds, except when requirement of the notice is imposed by applicable law.(c) Unless otherwise provided by written agreement of the parties, the rights, responsibilities, and liabilities of a person regarding an item withdrawn from a credit union, or transferred to a credit union or otherwise handled by a credit union are defined in and determined by the provisions of Division 3 (commencing with Section 3101) and Division 4 (commencing with Section 4101) of the Commercial Code, as if the credit union were a bank.(Amended by Stats. 1984, Ch. 452, Sec. 4.)
CA Fin Code § 14868 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14868.

14868.  (a) As used in this section:(1) “Beneficiary” has the meaning given that term in Section 5126 of the Probate Code.(2) “Totten trust account” has the meaning given that term in Section 80 of the Probate Code.(b) In the case of a Totten trust account, the deposit agreement shall indicate the current address of each beneficiary.(Added by Stats. 1989, Ch. 397, Sec. 18. Operative July 1, 1990, by Sec. 42 of Ch. 397.)
CA Fin Code § 14870 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14870.

14870.  (a) For purposes of this section, the following definitions apply:(1) “Nonqualifying account” means a deposit account, other than a demand deposit account, that is not a qualifying account.(2) “Qualifying account” means a deposit account, other than a demand deposit account, through which a credit union’s depositors may obtain chances to win prizes in a savings promotion.(3) “Savings promotion” means a contest or promotion to encourage savings deposits that is sponsored by one or more credit unions, or by a credit union trade association or its subsidiary in conjunction with one or more credit unions, and in which credit union depositors are offered a chance to win designated prizes.(b) A credit union may sponsor or participate in a savings promotion if all of the following requirements are satisfied:(1) Credit union depositors are not required to pay any fee or otherwise provide any consideration in order to enter the savings promotion.(2) All material terms of, and fees charged by a credit union in connection with, a qualifying account are comparable to those of comparable nonqualifying accounts offered by the credit union.(3) Each entry in the savings promotion has an equal chance of winning.(4) Participants in the savings promotion are not required to be present at a prize drawing in order to win.(c) For purposes of this section, a depositor’s deposit of at least a specified amount of money in a qualifying account, which is required in order to enter the savings promotion, is not consideration if the interest rate associated with the qualifying account is not reduced, as compared to comparable nonqualifying accounts offered by the credit union, to account for the possibility of winning a prize.(d) A savings promotion offered by a credit union shall not be considered a lottery within the meaning of Section 319 or 319.3 of the Penal Code, or a raffle within the meaning of Section 320.5 of the Penal Code.(Added by Stats. 2018, Ch. 847, Sec. 2. (SB 1055) Effective January 1, 2019.)
CA Fin Code § 14900 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 2 - Dividends|Section 14900.

14900.  Dividends need not be paid on a share account having less than the minimum balance prescribed in the bylaws.(Amended by Stats. 2018, Ch. 267, Sec. 7. (AB 2862) Effective January 1, 2019.)
CA Fin Code § 14901 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 2 - Dividends|Section 14901.

14901.  The rates of dividends and terms of payment may be established in advance by action of the board of directors. However, nothing in this section shall be construed to permit any credit union to pay a dividend except as provided in Section 14902.(Amended by Stats. 1998, Ch. 539, Sec. 34.7. Effective January 1, 1999.)
CA Fin Code § 14902 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 2 - Dividends|Section 14902.

14902.  The directors of any credit union may, for the dividend period, declare dividends from its undivided profits as provided by law, but no credit union shall credit or pay any dividends or pay loan interest refunds to its members until it has transferred to its regular reserve such part of its gross income as is required by Section 14700. However, nothing in this division shall be construed to permit the credit union to credit or pay a dividend from its undivided profits account when the credit or payment would result in a deficit in the undivided profits account.(Amended by Stats. 1983, Ch. 263, Sec. 4.)
CA Fin Code § 14905 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 2 - Dividends|Section 14905.

14905.  Amounts paid or credited by a credit union to its members or depositors on or before the 30th day after the close of its income year shall be deemed for all purposes as paid or credited by the credit union upon the last day of the income year. This section is applicable only to credit unions as entities and does not apply to the members or depositors thereof.(Added by renumbering Section 14907 by Stats. 1984, Ch. 303, Sec. 9.)
CA Fin Code § 14950 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14950.

14950.  (a) Every credit union may enter into obligations with its members upon the approval of the credit committee or, in the alternative, the credit manager, subject to the terms and conditions established by the board of directors pursuant to Section 15100.(b) (1) The board of directors of a credit union shall adopt a policy governing the acceptance by the credit union of notes receivable from nonmembers as consideration for the sale of assets owned by the credit union through bona fide transactions.(2) No credit union may accept notes receivable from nonmembers as consideration for the sale of assets owned by the credit union except in accordance with a policy adopted by the board of directors pursuant to paragraph (1).(3) Transactions subject to this subdivision shall not be deemed to be loans to nonmembers for purposes of Section 14750.(c) Notwithstanding subdivision (a), a credit union may permit a nonmember to participate in an obligation or extension of credit to a member as a joint applicant, co-obligor, coborrower, surety, or guarantor. An obligation or extension of credit made pursuant to this subdivision shall not be deemed a violation of subdivision (b) of Section 14800. Except as otherwise permitted by statute or regulation, the credit union shall not extend any other benefit or service of the credit union to the nonmember solely as a result of participation as a joint applicant, co-obligor, coborrower, surety, or guarantor unless the nonmember is thereafter admitted to membership.(Amended by Stats. 2016, Ch. 353, Sec. 8. (AB 2274) Effective January 1, 2017.)
CA Fin Code § 14952 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14952.

14952.  (a) The board of directors of a credit union shall establish the maximum amount that the credit union may lend to a member under 18 years of age in any case other than a case (1) where the member is an emancipated minor or (2) where the loan is secured in the manner provided for in Section 14955.(b) No credit union shall make a loan to a member under 18 years of age that will result in the member being obligated to the credit union in excess of the maximum amount established by the board of directors pursuant to subdivision (a) unless the member is an emancipated minor or the loan is secured in the manner provided for in Section 14955.(Amended by Stats. 1998, Ch. 539, Sec. 36.5. Effective January 1, 1999.)
CA Fin Code § 14953 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14953.

14953.  (a) Any extension of credit in excess of the unsecured loan limit set by the board of directors pursuant to Section 15100 shall be secured either (1) by real or personal property to the extent that the extension of credit exceeds such limit, or (2) in the manner provided in Section 14955.(b) If the security offered is an endorsed note as provided in subdivision (a) of Section 14955, a signed and dated financial statement shall be taken from each person who endorses the note and the sufficiency of the financial responsibility of every such endorser shall be verified by a majority of the credit committee. Obligations secured by the signatures of a borrower and endorser or endorsers shall not exceed the amount that may be extended to the borrower without security pursuant to Section 15100, plus an equivalent amount for each endorser; plus the amount of shares or certificates for funds pledged to secure the obligation.(Amended by Stats. 1984, Ch. 209, Sec. 12.)
CA Fin Code § 14954 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14954.

14954.  For the purposes of this chapter, a person who is not an applicant for an extension of credit or the creation of an obligation with the credit union but guarantees performance of the underlying obligation is a surety. A surety may act as security pursuant to subdivision (a) of Section 14955.(Amended by Stats. 1985, Ch. 951, Sec. 14.)
CA Fin Code § 14955 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14955.

14955.  “Security” includes, but is not limited to, the following:(a) A note endorsed by any member of the credit union or by any other person. (b) Any obligation wherein the payment of interest and principal is guaranteed by any municipal government, state government, the government of the United States, or by any instrumentality of the United States.(c) The amounts which a member has invested in the credit union, either in the form of shares or in funds received. If the amount invested by a member is equal to the loan made to that member, he shall not be required to give further security.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 14957 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14957.

14957.  Whenever the directors, the credit committee, or if applicable, the credit manager, deem any loan unsafe, they may require additional security to be given by the borrower, and if such security is not furnished as required, they may declare the loan due and take action to collect the same.(Amended by Stats. 1983, Ch. 89, Sec. 10.)
CA Fin Code § 14958 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14958.

14958.  A credit union may participate in guaranteed loan programs of the federal or state governments, subject to the limitations on loans set forth in this division.(Added by Stats. 1980, Ch. 52, Sec. 10.)
CA Fin Code § 14959 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14959.

14959.  (a) A credit union may do either or both of the following:(1) Purchase, in whole or in part, from any source, loans made to its members.(2) Sell, in whole or in part, to any source, loans made to its members.(b) A credit union may purchase, in whole or in part, either or both of the following:(1) A loan originated by another credit union, which is made to a member of the originating credit union even though the member is not also a member of the credit union purchasing the loan.(2) A loan from any source, if the purchase will facilitate the purchasing credit union’s packaging of a pool of those loans to be sold or pledged on the secondary market.(c) A loan purchase that is authorized by this section shall not be an obligation with a nonmember within the meaning of Section 14750.(Amended by Stats. 2018, Ch. 267, Sec. 8. (AB 2862) Effective January 1, 2019.)
CA Fin Code § 14960 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14960.

14960.  (a) Any credit union that extends consumer credit to a covered borrower, as those terms are defined in Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as published on July 22, 2015, on page 43560 in Number 140 of Volume 80 of the Federal Register, shall comply with the applicable provisions of Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785 (Public Law 112-239), and Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as amended on the date described above.(b) A credit union that does not market or extend consumer credit to covered borrowers, as those terms are defined under Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Federal Regulations, as amended on the date described in subdivision (a), shall not be in violation of Section 394 of the Military and Veterans Code.(Amended by Stats. 2017, Ch. 514, Sec. 2. (SB 266) Effective January 1, 2018.)
CA Fin Code § 14961 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 1 - General|Section 14961.

14961.  Any licensee that violates any provision of any of the following federal acts or regulations violates this division:(a) The federal Real Estate Settlement Procedures Act, as amended (12 U.S.C. Sec. 2601 et seq.).(b) The federal Truth in Lending Act, as amended (15 U.S.C. Sec. 1601 et seq.).(c) The federal Home Ownership Equity Protection Act (15 U.S.C. Sec. 1639).(d) Any regulation promulgated under any of the federal acts in subdivision (a), (b), or (c).(Added by Stats. 2009, Ch. 629, Sec. 5. (AB 260) Effective January 1, 2010.)
CA Fin Code § 15001 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 2 - Maximum Charges and Fees|Section 15001.

15001.  Every credit union may assess charges as approved by the board of directors for failure to meet punctually obligations to the credit union. Any late charge shall be made only once for each delinquent payment and shall be subject to Section 2954.5 of the Civil Code, Division 1.1 (commencing with Section 4000) of this code, and any other applicable law.(Amended by Stats. 1998, Ch. 539, Sec. 39. Effective January 1, 1999.)
CA Fin Code § 15051 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 3 - Loans to Directors, Officers and Committee Members|Section 15051.

15051.  The board of directors shall declare the office of any director, officer, committee member, or the credit manager vacant if the person fails to reduce any obligation to the credit union for which he or she is liable in a timely manner according to the terms of the obligation.(Amended by Stats. 1984, Ch. 789, Sec. 16.)
CA Fin Code § 15100 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 4 - Limitations|Section 15100.

15100.  (a) The board of directors shall establish written policies which shall set forth the policies of the credit union with respect to any obligation that is offered to the members of the credit union. The written policies shall set forth the maximum amounts and terms for any obligation offered to the members, including, but not limited to, the following information:(1) For loans, the written policies shall set out the terms for unsecured loans, the maximum amount and terms for secured loans, the schedule of interest rates established pursuant to Section 15000 for each type or class of unsecured and secured loan offered to members, the maximum maturity for any loan, or, in the case of an open-end loan, the rate of repayment for any type or class of open-end loan, the limitations, if any, which shall be placed on the authority of any loan officer appointed pursuant to Sections 14602 and 14603, and, subject to the provisions of subdivisions (b) and (c), the individual limits on obligations that are applicable to all members of the credit union. Any policy developed pursuant to this section by the board of directors shall, insofar as possible, and, subject to individual creditworthiness, ensure equal access to funds available for obligations with credit union members.(2) For obligations other than those set out in paragraph (1), the board of directors shall set out the interest rates and essential terms of the obligations offered to the members and any other information as may be required pursuant to regulations that may be adopted by the commissioner.(b) Notwithstanding subdivision (a), no credit union policy shall permit a credit union to enter into obligations with an individual credit union member whereby the total obligations of that member, exclusive of amounts secured by shares or certificates for funds, exceed 10 percent of the aggregate dollar amount of the credit union’s savings capital.(c) Notwithstanding subdivision (b), no credit union policy shall permit a credit union to enter into obligations with any one family whereby the total obligations of the family would be greater than the amount permitted by subdivision (b). For purposes of this article, “family” means the marital couple or any head of household together with those dependents residing with the marital couple or the head of household and those dependents attending school away from the principal residence of the marital couple or head of household.(Amended by Stats. 2016, Ch. 353, Sec. 11. (AB 2274) Effective January 1, 2017.)
CA Fin Code § 15101 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 4 - Limitations|Section 15101.

15101.  Notwithstanding the provisions of Section 15100, if a loan is made for educational purposes and such loan would cause the aggregate of loans to an individual or to any one family to exceed the limitations imposed by subdivision (b) or (c) of Section 15100, such educational loan shall not be included in computing the aggregate of loans pursuant to Section 15100, provided (1) that such educational loan is secured in accordance with subdivision (b) or (c) of Section 14955, and (2) that the aggregate amount of such educational loan exempted by this subdivision from subdivision (c) of Section 15100 shall not exceed ten thousand dollars ($10,000).(Amended by Stats. 1984, Ch. 209, Sec. 13.)
CA Fin Code § 15102 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 4 - Limitations|Section 15102.

15102.  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, a credit union, an affiliate of a credit union, a credit union service organization, or any successor in interest thereto, that originates, acquires, or purchases, in whole or in part, any loan secured directly or collaterally, in whole or in part, by a mortgage or deed of trust on real property, or any interest therein, may bring an action for recovery of damages, including exemplary damages not to exceed 50 percent of the actual damages, against a borrower where the action is based on fraud under Section 1572 of the Civil Code and the fraudulent conduct by the borrower induced the original lender to make that loan.(b) The provisions of this section shall not apply to loans secured by single-family, owner-occupied residential real property, when the property is actually occupied by the borrower as represented to the lender in order to obtain the loan and the loan is for an amount of one hundred fifty thousand dollars ($150,000) or less, as adjusted annually, commencing on January 1, 1987, to the Consumer Price Index as published by the United States Department of Labor.(c) Any action maintained under this section for damages shall not constitute a money judgment for deficiency or a deficiency judgment within the meaning of Section 580a, 580b, or 580d of the Code of Civil Procedure.(Added by Stats. 1986, Ch. 173, Sec. 3.)
CA Fin Code § 15103 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 7 - Loans|ARTICLE 4 - Limitations|Section 15103.

15103.  A credit union, or the agent of a credit union, that has received a notice pursuant to Section 7507.6 of the Business and Professions Code, shall not make a subsequent assignment to skip trace, locate, or repossess a vehicle without simultaneously, and in the same manner by which the assignment is given, advising the assignee of the assignment of the information contained in the notice. As used in this section, “assignment” has the same meaning set forth in Section 7500.1 of the Business and Professions Code.(Added by Stats. 2007, Ch. 192, Sec. 7. Effective September 7, 2007.)
CA Fin Code § 15200 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 9 - Merger, Dissolution and Conversion|ARTICLE 1 - Merger|Section 15200.

15200.  Any credit union may, with the approval of the commissioner, merge with another credit union or with a central credit union.(Amended by Stats. 1984, Ch. 452, Sec. 5.)