CHAPTER 1. General Provisions [14000. - 14053.]

Chapter 1 added by Stats. 1979, Ch. 112.

§§ 14000–14053 · 15 sections

1. ARTICLE 1. Definitions §§ 14000–14007 · 11 sections

   • § 14000 This division shall be known as the “California Credit Union Law.”
   • § 14001 The definitions given in this division govern the construction of this division unless the context otherwise requires.
   • § 14001.1 This division is applicable to any person, other than a federal credit union engaging in the business of a credit union in this state. For purposes of this…
   • § 14001.5 If and to the extent that any provision of this division is preempted by federal law, the provision shall not apply and shall not be enforced.
   • § 14002 A credit union is a cooperative, organized for the purposes of promoting thrift and savings among its members, creating a source of credit for them at rates of…
   • § 14002.5 (a) Except as provided in subdivision (b), all provisions of law applicable to nonprofit mutual benefit corporations generally (including, but not limited to,…
   • § 14003 “Commissioner” means the Commissioner of Financial Protection and Innovation.
   • § 14004 “Impaired capital” means that the losses or projected losses of a credit union are such that the book value of a member’s share is reduced below 100 percent of…
   • § 14005 Unless otherwise defined in this division, “insolvent” means a credit union has ceased to pay its debts in the ordinary course of business, or cannot pay its…
   • § 14006 “Credit manager” means a natural person approved by the board of directors and employed by a credit union to supervise the lending activities of the credit…
   • § 14007 “Obligation” means any contractual obligation to the credit union for money borrowed or credit extended or guaranteed from its members, including, but not…
2. ARTICLE 2. General §§ 14050–14053 · 4 sections

   • § 14050 The use by any person, other than those authorized by this division, of any name or title which contains the phrase “credit union,” is a misdemeanor. Nonprofit…
   • § 14051 Any person who willfully and knowingly makes, circulates, or transmits to another or others any statement or rumor, written, printed or by word of mouth, which…
   • § 14052 In addition to the powers enumerated in this division, every credit union has the general powers conferred upon corporations by the Nonprofit Mutual Benefit…
   • § 14053 (a) For purposes of this section, the following definitions apply: (1) “Fee” means a nonsufficient funds fee or an overdraft fee. (2) “Nonsufficient funds fee”…