reglab/housing_qa huggingface dataset:
CA Fin Code § 14751 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14751.

14751.  Any officer, director, member of a committee, credit manager, or loan officer appointed pursuant to Section 14602 who violates Section 14750 is primarily liable to the credit union for the amount of any obligation that was created in violation of Section 14750. The illegality of the creation of the obligation is no defense in an action by the credit union to recover any amounts owing as a result of any obligation created in violation of Section 14750.(Amended by Stats. 1984, Ch. 789, Sec. 7.)
CA Fin Code § 14752 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14752.

14752.  Except as provided for in Section 14051 and this article, any person who willfully violates any provision of this division, or who willfully violates any rule or order issued pursuant to this division, shall upon conviction be fined not more than ten thousand dollars ($10,000) or imprisoned pursuant to subdivision (h) of Section 1170 of the Penal Code, or in a county jail for not more than one year, or be punished by both that fine and imprisonment, but no person may be imprisoned for the violation of any rule or order unless he or she had knowledge of the rule or order. Conviction under this section shall not bar the exercise of the administrative authority of the commissioner provided in Section 14208.(Amended by Stats. 2011, Ch. 15, Sec. 108. (AB 109) Effective April 4, 2011. Operative October 1, 2011, by Sec. 636 of Ch. 15, as amended by Stats. 2011, Ch. 39, Sec. 68.)
CA Fin Code § 14753 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14753.

14753.  Any director, officer, or employee of a credit union who asks for, receives, or agrees to receive any money, property, or thing of value for his personal benefit or advantage for (a) procuring or attempting to procure for any person any loan from that credit union, (b) for the purchase or discount of any note, draft, check, bill of exchange, or other obligation by that credit union, or (c) for permitting any person to overdraw any account with that credit union, is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 2.)
CA Fin Code § 14754 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14754.

14754.  Any director, officer, or employee of a credit union who knowingly overdraws his or her account with that credit union, except for any overdraft pursuant to an agreement which is approved in advance as provided in Section 14603 and which is in conformity with Section 15050, is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 3.)
CA Fin Code § 14755 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14755.

14755.  Any director, officer, agent, or employee of any credit union who knowingly receives or possesses the credit union’s property otherwise than in payment of a just demand with intent to defraud, omits to make or omits to cause to be made a full and true entry thereof in the credit union’s books and accounts, or concurs in omitting to make any material entry thereof, is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 4.)
CA Fin Code § 14756 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14756.

14756.  Any director, officer, agent, or employee of a credit union who (1) knowingly concurs in making or publishing any written report, exhibit, or statement of the credit union’s affairs or financial condition containing any material statement which is false, or (2) having the custody of the credit union’s books, willfully refuses or neglects to make any proper entry in those books as required by law, or (3) refuses to allow the books to be inspected or extracts to be taken therefrom by the commissioner or the commissioner’s deputies or examiners, is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 5.)
CA Fin Code § 14758 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14758.

14758.  Any director, officer, or employee of a credit union who makes or maintains, or attempts to make or maintain, a deposit of the credit union’s funds with any other person on the condition or with the understanding, whether express or implied, that the person receiving that deposit will make a loan or advance, directly or indirectly, to any director, officer, or employee of the credit union is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 7.)
CA Fin Code § 14759 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14759.

14759.  Any officer, director, employee, or agent of any credit union who willfully makes a false or untrue entry in any book, record, report, statement concerning the business or affairs of the credit union, or statement of condition or in connection with any transaction of the credit union with intent to deceive any officer or director thereof, or with intent to deceive any agent or examiner, whether private or public, employed or lawfully appointed to examine into the credit union’s condition or to examine into any of the credit union’s affairs or transactions, or with intent to deceive any public officer, office, or board to which the credit union is required by law to report or which has authority by law to examine into the credit union’s affairs or transactions or to examine into any of the credit union’s affairs or transactions or who, with like intent, willfully omits to make a new entry of any matter particularly pertaining to the business, property, condition, affairs, transactions, assets, or accounts of the credit union in any book, record, report, or statement of the credit union, or who with like intent alters, abstracts, conceals, or destroys any book, record, report, or statement of the credit union made, written, or kept, or required to be made, written, or kept by him or her or under his or her direction, is guilty of a felony.(Added by Stats. 1986, Ch. 673, Sec. 8.)
CA Fin Code § 14760 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14760.

14760.  (a) Every director of a credit union is guilty of a misdemeanor who: (1) In case of the fraudulent insolvency of that credit union, has participated in the fraud; or(2) Willfully does any act in his or her capacity as director which is expressly forbidden by law or willfully omits to perform any duty imposed upon him or her as such a director by law.(b) The insolvency of a credit union is deemed fraudulent for the purposes of this section, unless its affairs appear upon investigation to have been administered lawfully and with the same care and diligence that agents receiving a compensation for their services are bound to observe.(Added by Stats. 1986, Ch. 673, Sec. 9.)
CA Fin Code § 14761 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14761.

14761.  Any officer or agent of any credit union who makes or delivers any guaranty or endorsement on behalf of the credit union whereby the credit union may become liable upon any of the credit union’s discounted notes, bills, or obligations in a sum beyond the amount of loans and discounts which the credit union may lawfully make, is guilty of a misdemeanor.(Added by Stats. 1986, Ch. 673, Sec. 10.)
CA Fin Code § 14762 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14762.

14762.  A director of a credit union who concurs in any vote or act of the directors of the credit union by which it is intended to make a loan or discount to any director of the credit union exceeding the amount allowed by law, is guilty of a misdemeanor.(Added by Stats. 1986, Ch. 673, Sec. 11.)
CA Fin Code § 14763 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14763.

14763.  Any officer or employee of any credit union who intentionally conceals from the directors of the credit union any discounts or loans made by the credit union between the regular meetings of its board of directors, or intentionally conceals the purchase of any securities or the sale of the credit union’s securities during that period, or who knowingly fails to report to the board of directors when required to do so by law all discounts or loans made by the credit union and all securities purchased or sold by the credit union between the regular meetings of its board of directors, is guilty of a misdemeanor.(Added by Stats. 1986, Ch. 673, Sec. 12.)
CA Fin Code § 14764 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14764.

14764.  No credit union shall purchase any real or personal property or any interest in real or personal property, including, but not limited to, a leasehold, or any contract arising from the sale of real or personal property or any note or bond in which any officer, director, or employee of the credit union is personally or financially interested, directly or indirectly, for that person’s own account or as the partner or agent of others, without first obtaining the written consent of the commissioner.(Added by Stats. 1986, Ch. 673, Sec. 13.)
CA Fin Code § 14765 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14765.

14765.  No officer, director, or employee of a credit union shall purchase, directly or indirectly, or be interested in the purchase of, any of the credit union’s assets for an amount less than the then current market value thereof. Every person violating this section shall be liable to the people of this state for each offense in the amount of twice the market value of the assets so purchased.(Added by Stats. 1986, Ch. 673, Sec. 14.)
CA Fin Code § 14766 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14766.

14766.  No officer, director, or employee of a credit union, directly or indirectly, shall purchase or be interested in the purchase of, any of the credit union’s obligations or assets for an amount less than the book value thereof, unless all the directors of the credit union previously approve the purchase by resolution and a copy of the resolution is delivered to the commissioner immediately after adoption. Every person violating this section shall be liable to the people of this state for each offense in the amount of twice the book value of the assets so purchased.(Amended by Stats. 1998, Ch. 539, Sec. 29. Effective January 1, 1999.)
CA Fin Code § 14767 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14767.

14767.  It is unlawful for any person willfully to make any untrue statement of a material fact in any document filed with the commissioner under this division, or willfully to omit to state in any document any material fact which is required to be stated therein.(Added by Stats. 1988, Ch. 651, Sec. 5.)
CA Fin Code § 14768 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 4 - Management and Operations|ARTICLE 8 - Penalties|Section 14768.

14768.  Any officer, director, employee, or agent of any credit union who abstracts or willfully misapplies any of the money, funds, or property of the credit union, or willfully misapplies its credit, is guilty of a felony. Upon conviction, the court shall, in addition to any other punishment imposed, order the person to make full restitution to the credit union. Nothing in this section shall be deemed or construed to repeal, amend, or impair any existing provision of law prescribing a punishment for such an offense.(Added by Stats. 1990, Ch. 947, Sec. 4.)
CA Fin Code § 14850 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14850.

14850.  The Corporate Securities Law relating to the necessity of qualification of the sale of securities does not apply to the sale and issue of membership shares, certificates for funds, and other securities, by credit unions organized under this division or lawfully doing business in this state. No credit union lawfully doing business in this state shall be required to file a certificate for determination of preference with the office of the Secretary of State in connection with any share offering so long as it complies with all applicable provisions of this division and the rules of the commissioner.(Amended by Stats. 1980, Ch. 321, Sec. 12.)
CA Fin Code § 14851 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14851.

14851.  (a) A credit union may issue shares as follows:(1) To a member qualified pursuant to the credit union’s bylaws.(2) To an officer, employee, or agent of nonmember units of federal, Indian tribal, state, or local governments, and political subdivisions thereof, when acting in that officer’s, employee’s, or agent’s official capacity.(3) To a member or nonmember state or federal credit union.(4) (A) In coownership to a member and a person designated by the member.(B) As used in this paragraph, coownership includes, but is not limited to, joint tenancy, tenancy in common, or community property forms of ownership.(b) Membership privileges, including voting and obtaining a loan, may not be made available to a nonmember as a result of ownership of shares solely as a coowner of shares with a member. A certificate or other evidence of shares that is issued shall contain the words “No transfer of voting rights or other membership privilege is permitted by virtue of a transfer of shares.” Shares may be transferred to a public agency lawfully entitled to receive the shares when designated by a member as an assignee of an account pledged as a surety deposit to the public agency by the member.(c) A credit union that has a low-income designation pursuant to Section 701.34 of the regulations of the National Credit Union Administration (12 C.F.R. Sec. 701.34) may issue shares to nonmembers. Except with the written approval of the commissioner, the total number of shares issued by the credit union to nonmembers pursuant to this subdivision shall not exceed 20 percent of the unimpaired capital and surplus of the credit union.(Amended by Stats. 2021, Ch. 762, Sec. 9. (SB 269) Effective January 1, 2022.)
CA Fin Code § 14852 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14852.

14852.  Every credit union may charge a reasonable fee for the transfer of its shares.(Repealed and added by Stats. 1979, Ch. 112.)
CA Fin Code § 14853 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14853.

14853.  A credit union may issue shares or certificates for funds to a minor of any age or maintain any other account authorized for credit union members for a minor, and receive payments thereon by or for the minor. The minor is entitled to withdraw, transfer, or pledge any shares or certificates or other moneys owned by him or her and to receive from the credit union all dividends, interest, or other money due thereon in the same manner and subject to the same conditions as an adult. The receipt or acquittance of a minor constitutes a valid release and discharge of the credit union for the payment of dividends, interest, or other money due to the minor.(Amended by Stats. 1983, Ch. 6, Sec. 4.)
CA Fin Code § 14854 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14854.

14854.  Subject to Section 14860, a credit union share account that is a multiple-party account, as defined in Section 5132 of the Probate Code, is governed by Part 2 (commencing with Section 5100) of Division 5 of the Probate Code.(Amended by Stats. 1990, Ch. 79, Sec. 9. Operative July 1, 1991, pursuant to Stats. 1990, Ch. 710, Sec. 46.)
CA Fin Code § 14855 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14855.

14855.  Every credit union may receive money and accumulate funds to be loaned and execute certificates for funds for the money received. The certificates for funds shall specify the date, amount, rate of interest, and when the principal and interest are payable.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 14856 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14856.

14856.  Every credit union may impress a lien upon the shares and dividends of any member to the extent of any obligations entered into with that member and for any dues or charges payable by that member.(Amended by Stats. 1984, Ch. 789, Sec. 9.)
CA Fin Code § 14857 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14857.

14857.  Every credit union may cancel the shares of any member who withdraws or is expelled, and apply the value of the shares to the liquidation of the member’s indebtedness to the credit union.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 14858 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14858.

14858.  Every credit union shall apply for and obtain insurance as provided for by Title II of the Federal Credit Union Act (12 U.S.C. Sec. 1781 and following), or other insurance or guaranty of shares that is not unsatisfactory to the commissioner. In seeking and retaining this insurance or guaranty, a credit union may do all things and assume and discharge all obligations required of it when not in conflict with the laws of this state.(Amended by Stats. 1998, Ch. 539, Sec. 33. Effective January 1, 1999.)
CA Fin Code § 14860 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14860.

14860.  Except as provided in this section and Part 2 (commencing with Section 5100) of Division 5 of the Probate Code, no credit union shall exercise trust powers except upon qualifying as a trust company pursuant to Division 1 (commencing with Section 99).(a) Notwithstanding any other law relating to trusts and trust authority, subject to the regulations of the commissioner, a credit union may act as a trustee or custodian, and may receive reasonable compensation for so acting, under any written trust instrument or custodial agreement created or organized in the United States which is a part of a pension, education, or medical plan for its members or groups or organizations of its members, which qualifies or has qualified for specific tax treatment under Section 220, 223, 401, 408, 408A, 457, or 530 of the Internal Revenue Code, Title 26 of the United States Code, or any deferred compensation plan for the benefit of the credit union’s employees, provided the funds received pursuant to these plans are invested as provided in Section 16040 of the Probate Code. All funds held by a credit union as trustee or in a custodial capacity shall be maintained in accordance with applicable laws and rules and regulations as may be promulgated by the Secretary of Labor, the Secretary of the Treasury, or any other authority exercising jurisdiction over the trust or custodial accounts. The credit union shall maintain individual records for each participant or beneficiary that show in detail all transactions relating to the funds of each participant or beneficiary.The trust instrument or agreement shall provide for the appointment of a successor trustee or custodian by a person, committee, corporation, or organization other than the credit union or any person acting in his or her capacity as a director, employee, or agent of the credit union, upon notice from the credit union or the commissioner that the credit union is unwilling or unable to continue to act as trustee or custodian.(b) Shares may be issued in a revocable or irrevocable trust subject to the following:(1) When shares are issued in a revocable trust, the settlor shall be a member of the credit union issuing the shares in his or her own right. If the trust has joint settlors, who are spouses, then only one settlor need be a member of the credit union.(2) When shares are issued in an irrevocable trust, the settlor or the beneficiary shall be a member of this credit union in his or her own right. For purposes of this section, shares issued pursuant to a pension plan authorized by this section shall be treated as an irrevocable trust unless otherwise indicated in rules and regulations issued by the commissioner.(3) This subdivision does not apply to trust accounts established prior to the effective date of this subdivision.(Amended by Stats. 2016, Ch. 50, Sec. 37. (SB 1005) Effective January 1, 2017.)
CA Fin Code § 14861 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14861.

14861.  No credit union shall issue shares to anyone not qualified for membership under its bylaws, except shares issued in coownership as provided in Section 14851.(Amended by Stats. 1980, Ch. 52, Sec. 9.)
CA Fin Code § 14863 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14863.

14863.  (a) A credit union shall not impose any charge on a member or depositor holding a periodic certificate for funds for the failure of such member or depositor to invest, or for the late investment of, any agreed periodic installment investment in such a periodic certificate for funds. A credit union shall pay interest on periodic certificates for funds at the same rate of interest per annum as is paid on certificates for funds as to which a member or depositor has not agreed to make periodic installment investments.(b) As used in this section “periodic certificate for funds” means a certificate for funds under which a member or depositor undertakes to make periodic investments of a specified amount into one account, except, however, a periodic certificate for funds shall not mean an impound account established for the purpose of payment of taxes or other expenses and obligations in connection with a loan secured by real property.(Added by Stats. 1979, Ch. 112.)
CA Fin Code § 14865 (2021)
2021 California Code|Financial Code - FIN|DIVISION 5 - CREDIT UNIONS|CHAPTER 6 - Share Accounts and Certificates for Funds|ARTICLE 1 - General|Section 14865.

14865.  Shares issued by a credit union to a member shall be evidenced in monetary amounts rather than by numbers of shares. The shares owned by a member also may be referred to as a “share account”. There shall be no limit to the amount of shares which a credit union may issue.(Added by Stats. 1980, Ch. 321, Sec. 14.)