California Financial Code ARTICLE 1 - General

• Section 14400.
  (a) The savings capital of a credit union shall consist of the payments made by members on shares as set forth in the credit union’s written...
• Section 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...
• Section 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 employed...
• Section 14403.
  Every credit union may purchase and hold, either individually or jointly with other credit unions or affiliated organizations, furniture, fixtures, vaults, and other personal property...
• Section 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...
• Section 14405.
  Every credit union may:(a) (1) Become a member of any organization or organizations composed of credit unions, credit associations, chambers of commerce, financial institutions, community economic development...
• Section 14406.
  The savings capital, undivided profits, and reserve funds of a credit union shall be deposited only in the following:(a) Commercial banks or trust companies, incorporated under...
• Section 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...
• Section 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...
• Section 14409.
  (a) Every credit union shall obtain adequate bond or insurance coverage, for each director, officer, supervisory committee member, and credit committee member, for the credit manager,...
• Section 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...
• Section 14410.
  (a) No member of the board of directors, supervisory committee, or credit committee shall receive any compensation for his or her services as a member of...

Last modified: October 22, 2018