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Financial Code - FIN - FIN § 14852
Financial Code - FIN - FIN § 14852
Every credit union may charge a reasonable fee for the transfer of its shares.
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Financial Code - FIN - FIN § 14853
Financial Code - FIN - FIN § 14853
A credit union may issue shares or certificates for funds to a minor of any age or maintain any other account authorized for credit union members for a minor, and receive payments thereon by or for the minor. The minor is entitled to withdraw, transfer, or pledge any shares or ce
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Financial Code - FIN - FIN § 14854
Financial Code - FIN - FIN § 14854
Subject to Section 14860, a credit union share account that is a multiple-party account, as defined in Section 5132 of the Probate Code, is governed by Part 2 (commencing with Section 5100) of Division 5 of the Probate Code.
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Financial Code - FIN - FIN § 14855
Financial Code - FIN - FIN § 14855
Every credit union may receive money and accumulate funds to be loaned and execute certificates for funds for the money received. The certificates for funds shall specify the date, amount, rate of interest, and when the principal and interest are payable.
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Financial Code - FIN - FIN § 14856
Financial Code - FIN - FIN § 14856
Every credit union may impress a lien upon the shares and dividends of any member to the extent of any obligations entered into with that member and for any dues or charges payable by that member.
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Financial Code - FIN - FIN § 14857
Financial Code - FIN - FIN § 14857
Every credit union may cancel the shares of any member who withdraws or is expelled, and apply the value of the shares to the liquidation of the member’s indebtedness to the credit union.
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Financial Code - FIN - FIN § 14858
Financial Code - FIN - FIN § 14858
Every credit union shall apply for and obtain insurance as provided for by Title II of the Federal Credit Union Act (12 U.S.C. Sec. 1781 and following), or other insurance or guaranty of shares that is not unsatisfactory to the commissioner. In seeking and retaining this insuranc
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Financial Code - FIN - FIN § 1486
Financial Code - FIN - FIN § 1486
A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease which does not expire, or which has been extended or renewed so that it does not expire, for at least 10 years beyond the maturity date of the loan, if: (a) Th
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Financial Code - FIN - FIN § 14860
Financial Code - FIN - FIN § 14860
Except as provided in this section and Part 2 (commencing with Section 5100) of Division 5 of the Probate Code, no credit union shall exercise trust powers except upon qualifying as a trust company pursuant to Division 1 (commencing with Section 99). (a) Notwithstanding any other
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Financial Code - FIN - FIN § 14861
Financial Code - FIN - FIN § 14861
No credit union shall issue shares to anyone not qualified for membership under its bylaws, except shares issued in coownership as provided in Section 14851.
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Financial Code - FIN - FIN § 14863
Financial Code - FIN - FIN § 14863
(a) A credit union shall not impose any charge on a member or depositor holding a periodic certificate for funds for the failure of such member or depositor to invest, or for the late investment of, any agreed periodic installment investment in such a periodic certificate for fun
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Financial Code - FIN - FIN § 14865
Financial Code - FIN - FIN § 14865
Shares issued by a credit union to a member shall be evidenced in monetary amounts rather than by numbers of shares. The shares owned by a member also may be referred to as a “share account”. There shall be no limit to the amount of shares which a credit union may issue.
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Financial Code - FIN - FIN § 14866
Financial Code - FIN - FIN § 14866
The evidence of credit union shares issued shall be a certificate, a passbook, a statement or other evidence approved by regulation of the commissioner. The evidence of any credit union shares shall not constitute an “investment security” under Division 8 (commencing with Section
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Financial Code - FIN - FIN § 14867
Financial Code - FIN - FIN § 14867
(a) Shares, including special shares, and certificates for funds may be withdrawn for payment to the owner or for any third party, in the manner and in accordance with written procedures which shall be established by the board of directors. (b) The board of directors may waive an
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Financial Code - FIN - FIN § 14868
Financial Code - FIN - FIN § 14868
(a) As used in this section: (1) “Beneficiary” has the meaning given that term in Section 5126 of the Probate Code. (2) “Totten trust account” has the meaning given that term in Section 80 of the Probate Code. (b) In the case of a Totten trust account, the deposit agreement shall
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Financial Code - FIN - FIN § 1487
Financial Code - FIN - FIN § 1487
(a) The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to accelerate the maturity date of the principal and interest on any loan secured thereby or to exercise any power of sale or other remedy contained in the
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Financial Code - FIN - FIN § 14870
Financial Code - FIN - FIN § 14870
(a) For purposes of this section, the following definitions apply: (1) “Nonqualifying account” means a deposit account, other than a demand deposit account, that is not a qualifying account. (2) “Qualifying account” means a deposit account, other than a demand deposit account, th
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Financial Code - FIN - FIN § 1488
Financial Code - FIN - FIN § 1488
The provisions of any deed of trust or mortgage on real property which authorize any state or nationally chartered bank to receive and control the disbursement of the proceeds of any policy of fire, flood, or other hazard insurance respecting the real property shall be enforceabl
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Financial Code - FIN - FIN § 1489
Financial Code - FIN - FIN § 1489
A commercial bank may lend on the security of a first lien on real property or a first lien on a leasehold under a lease which does not expire, or which has been extended or renewed so that it does not expire, for at least 10 years beyond the maturity date of the loan, if the cri
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Financial Code - FIN - FIN § 149
Financial Code - FIN - FIN § 149
“CAMELS composite rating” shall have the meaning set forth in Section 327.8(j) of Title 12 of the Code of Federal Regulations.
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Financial Code - FIN - FIN § 1490
Financial Code - FIN - FIN § 1490
A commercial bank shall not lend in the aggregate more than 5 percent of its assets upon the security of the stock of any one corporation or upon the security of the bonds of any one obligor except bonds of the United States or for the payment of which the credit of the United St
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Financial Code - FIN - FIN § 14900
Financial Code - FIN - FIN § 14900
Dividends need not be paid on a share account having less than the minimum balance prescribed in the bylaws.
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Financial Code - FIN - FIN § 14901
Financial Code - FIN - FIN § 14901
The rates of dividends and terms of payment may be established in advance by action of the board of directors. However, nothing in this section shall be construed to permit any credit union to pay a dividend except as provided in Section 14902.
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Financial Code - FIN - FIN § 14902
Financial Code - FIN - FIN § 14902
The directors of any credit union may, for the dividend period, declare dividends from its undivided profits as provided by law, but no credit union shall credit or pay any dividends or pay loan interest refunds to its members until it has transferred to its regular reserve such
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Financial Code - FIN - FIN § 14905
Financial Code - FIN - FIN § 14905
Amounts paid or credited by a credit union to its members or depositors on or before the 30th day after the close of its income year shall be deemed for all purposes as paid or credited by the credit union upon the last day of the income year. This section is applicable only to c