ARTICLE 1. General [14950. - 14961.]

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

§§ 14950–14961 · 10 sections

• § 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,…
• § 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…
• § 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…
• § 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…
• § 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…
• § 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…
• § 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.
• § 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…
• § 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…
• § 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…