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Financial Code - FIN - FIN § 1460
Financial Code - FIN - FIN § 1460
A commercial bank shall not rediscount, borrow money, or hypothecate its assets as security for money borrowed except to the extent and upon the conditions set forth in this division.
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Financial Code - FIN - FIN § 14600
Financial Code - FIN - FIN § 14600
Every credit union shall have a credit committee of at least three persons, each of whom shall be a member of the credit union, or in the alternative, a credit manager, to have general supervision of all obligations of members. The bylaws of the credit union shall provide that ei
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Financial Code - FIN - FIN § 14601
Financial Code - FIN - FIN § 14601
No member of the credit committee or the credit manager or any loan officer shall serve as a member of the supervisory committee.
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Financial Code - FIN - FIN § 14602
Financial Code - FIN - FIN § 14602
(a) (1) No credit union shall create any obligation with a credit union member, without the written approval of a majority of all the members of the credit committee, the credit manager, or a loan officer appointed as provided in this section. (2) Paragraph (1) does not apply to
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Financial Code - FIN - FIN § 14603
Financial Code - FIN - FIN § 14603
The credit committee, the credit manager, or a loan officer may approve in advance, upon their own motion or upon the application of any member, the extension of credit to any member and loans may be granted to such member within the limit of such extension of credit authorized b
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Financial Code - FIN - FIN § 14604
Financial Code - FIN - FIN § 14604
A credit union member whose written application to enter into any obligation is denied, may appeal from the denial of the credit committee, the credit manager, or loan officer to the board of directors.
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Financial Code - FIN - FIN § 14605
Financial Code - FIN - FIN § 14605
A credit manager shall not disburse or have the authority to authorize any person to disburse the proceeds of any loan. A credit manager shall not authorize or make loans to other credit unions.
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Financial Code - FIN - FIN § 1461
Financial Code - FIN - FIN § 1461
Assets hypothecated by a commercial bank as security for moneys borrowed shall not exceed in value the amount borrowed by more than 50 percent except with the prior written consent of the commissioner.
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Financial Code - FIN - FIN § 1462
Financial Code - FIN - FIN § 1462
A commercial bank may borrow money by discounting or otherwise, and may borrow money secured by real property owned by the bank, to an amount not in excess of its shareholders’ equity, but shall not borrow money except as provided in Sections 1464 and 1465 in excess of such amoun
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Financial Code - FIN - FIN § 1463
Financial Code - FIN - FIN § 1463
A commercial bank may hypothecate its assets in any manner provided by law to secure the deposits of moneys of the United States, of postal savings funds, of estates in bankruptcy cases, of the State of California, or of any political subdivision, public corporation, or district
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Financial Code - FIN - FIN § 1464
Financial Code - FIN - FIN § 1464
A commercial bank may borrow for the purpose of buying from the United States, United States bonds, United States Treasury certificates, or notes or other obligations of the United States.
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Financial Code - FIN - FIN § 1465
Financial Code - FIN - FIN § 1465
A commercial bank may rediscount with, borrow money from, or hypothecate its assets as security for money borrowed from a Federal Reserve bank, the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank.
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Financial Code - FIN - FIN § 14650
Financial Code - FIN - FIN § 14650
Subject to the limitations of Sections 14402, 14403, and 14404, any credit union or credit unions may purchase, acquire and hold outstanding shares of a corporation engaged exclusively in holding property of the character described in Section 14402 and which property is or is to
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Financial Code - FIN - FIN § 14651
Financial Code - FIN - FIN § 14651
(a) Every credit union may invest in the shares of stock of a corporation, or in membership or economic interests of a limited liability company, organized solely for the purpose of providing services to credit unions, provided the corporation or limited liability company is form
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Financial Code - FIN - FIN § 14652
Financial Code - FIN - FIN § 14652
Every credit union may invest in securities and other assets described in Chapter 10 (commencing with Section 800) of Division 1 as legal investments for nonbank licensees.
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Financial Code - FIN - FIN § 14652.5
Financial Code - FIN - FIN § 14652.5
A credit union may organize, sponsor, operate, control, or render investment advice to, an investment company, or underwrite, distribute, or sell securities of any investment company which has qualified to sell its securities in this state pursuant to Part 2 (commencing with Sect
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Financial Code - FIN - FIN § 14653
Financial Code - FIN - FIN § 14653
Credit unions may invest in a trust organized solely for the purpose of investing in United States government securities and United States government agency securities, provided the trust is formed by an organization composed of credit unions or an organization of credit union as
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Financial Code - FIN - FIN § 14653.5
Financial Code - FIN - FIN § 14653.5
Notwithstanding any other provision of law, a credit union may make any investment authorized by regulation or in writing by the commissioner.
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Financial Code - FIN - FIN § 14654
Financial Code - FIN - FIN § 14654
Credit unions may purchase from the vendor or lessor of any personal property, conditional sale contracts or vehicle lease agreements covering the sale or lease of that property or vehicle to its members. The credit union may hold and retain any such conditional sale contract or
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Financial Code - FIN - FIN § 14656
Financial Code - FIN - FIN § 14656
A credit union may, in accordance with rules and regulations prescribed by the commissioner, purchase from any liquidating credit union notes made by individual members of such liquidating credit union, at such prices and under such terms as may be agreed upon by the board of dir
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Financial Code - FIN - FIN § 14657
Financial Code - FIN - FIN § 14657
(a) A credit union may invest in charitable donation accounts, or CDAs, in accordance with this section as a means of providing charitable contributions and donations to qualified charities. If a credit union invests in a CDA that satisfies all of the conditions in subdivision (b
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Financial Code - FIN - FIN § 14659
Financial Code - FIN - FIN § 14659
(a) A credit union that is investing to fund an employee benefit plan obligation may purchase an investment that would otherwise be impermissible if the investment is directly related to the credit union’s obligation or potential obligation under the employee benefit plan and the
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Financial Code - FIN - FIN § 1466
Financial Code - FIN - FIN § 1466
A commercial bank may issue negotiable certificates of deposit transferable by endorsement and delivery and nonnegotiable certificates transferable only on the books of the bank.
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Financial Code - FIN - FIN § 1467
Financial Code - FIN - FIN § 1467
A commercial bank located in a place the population of which does not exceed 5,000 persons according to the most recent official federal or state census may act as agent for any fire, life, or other insurance company authorized to do business in California by soliciting and selli
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Financial Code - FIN - FIN § 147
Financial Code - FIN - FIN § 147
“California” means: (a) When used with respect to a bank, in the case of a state bank, a bank that is organized under the laws of this state and, in the case of a national bank, a national bank that maintains its main office in this state. (b) When used with respect to an office