ARTICLE 1. General [14400. - 14410.]
Article 1 added by Stats. 1979, Ch. 112.
§§ 14400–14410 · 12 sections
- § 14400 (a) The equity capital of the credit union shall consist of the credit union’s regular reserve account, the undivided earnings account, any appropriated…
- § 14401 A credit union may borrow money from any source in an aggregate amount not to exceed 50 percent of the paid-in and unimpaired capital and surplus of the credit…
- § 14402 Every credit union may purchase and hold, either individually or jointly with other credit unions or affiliated organizations, a lot and building to be…
- § 14403 Every credit union may purchase and hold, either individually or jointly with other credit unions or affiliated organizations, furniture, fixtures, vaults, and…
- § 14404 A credit union shall not invest more than the amounts permitted pursuant to regulations which shall be promulgated by the commissioner for the investments set…
- § 14405 Every credit union may: (a) (1) Become a member of any organization or organizations composed of credit unions, credit associations, chambers of commerce,…
- § 14406 The savings capital, as defined in Section 14400, undivided profits, and reserve funds of a credit union shall be deposited only in the following: (a)…
- § 14407 (a) Whenever the losses of any credit union resulting from a depreciation in the value of its securities or otherwise exceed its undivided earnings and reserve…
- § 14408 No credit union shall make any gift or donation having a value in excess of twenty-five thousand dollars ($25,000) unless the gift or donation is in the best…
- § 14409 (a) Every credit union shall obtain adequate bond or insurance coverage, for each director, officer, supervisory committee member, audit committee member, and…
- § 14409.2 (a) Notwithstanding the provisions of Sections 1051, 1052, and 1054 of the Labor Code and Section 2947 of the Penal Code, any credit union or officer or…
- § 14410 (a) (1) A member of the board of directors, supervisory committee, audit committee, or credit committee shall not receive compensation for that member’s…