A director of a credit union who concurs in any vote or act of the directors of the credit union by which it is intended to make a loan or discount to any director of the credit union exceeding the amount allowed by law, is guilty of a misdemeanor.
Cal. Fin. Code § 14762
Penalties
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Added by Stats. 1986, Ch. 673, Sec. 11.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.