This law allows credit unions to make financial agreements with their members, as long as the credit committee or credit manager approves them according to board policies. The board sets policies for handling notes receivable from nonmembers when selling credit union assets, ensuring that these transactions align with specific guidelines. These transactions are not considered loans to nonmembers. Additionally, nonmembers can participate in obligations with members, like being co-borrowers or guarantors, without violating certain restrictions, but they don't receive other credit union benefits or services unless they become members.

This law sets rules for credit unions about how much they can lend to members under 18 years old. The credit union's board decides the maximum loan amount. However, exceptions apply if the minor is legally emancipated or if the loan is secured according to specific guidelines in a different section (Section 14955).

The law prohibits loans that would have the minor owe more than this limit, unless these exceptions are met.

This law explains the requirements for extending credit beyond a set unsecured loan limit. Firstly, any credit above this limit must be secured with either real or personal property or follow specific guidelines in another section (14955). Secondly, if the security is an endorsed note, each endorser must provide a signed financial statement and their financial reliability must be verified by a credit committee. The total loans secured by signatures should not surpass a certain amount determined by the unsecured limit, plus additional amounts for each endorser and pledged shares or certificates.

This law states that if someone is not applying for credit themselves but agrees to be responsible for someone else's credit obligation with a credit union, they're considered a 'surety.' This means they are providing a guarantee for the performance of the obligation.

This section explains what counts as "security" for loans in a credit union context. It includes several possibilities, like a promissory note endorsed by a credit union member or someone else, and obligations guaranteed by government entities (local, state, or federal). Additionally, if a member's investment in the credit union is equal to the loan amount, they don't need any extra security.

If the directors or credit committee (or the credit manager, if applicable) believe a loan is at risk, they can ask the borrower to provide extra security. If the borrower doesn't provide this security, they can demand the loan be paid back immediately and take steps to collect it.

Credit unions in California are allowed to take part in loan programs that are backed by the federal or state government, but they need to follow the loan limitations specified in this division.

Credit unions in California can buy or sell loans made to their members. They have the option to purchase loans from any source or sell them to any source. This means they can buy a loan that another credit union has given to its member, even if the purchasing credit union's members are not involved. Additionally, credit unions can buy loans from any source to package and sell them on the secondary market. Importantly, these purchases shouldn't be considered obligations to nonmembers under another section of the law.

This law sets the rules for credit unions providing loans to certain borrowers, specifically those defined by federal regulations as 'covered borrowers.' These rules require following federal standards related to consumer credit for military members, such as Section 987 of Title 10. If a credit union does not offer credit to these covered borrowers, it won't face penalties under a related California military law.

This law states that if a licensed professional violates certain federal laws related to real estate, lending, or homeownership protection, they also break this California division. Specifically, the violations involve the Real Estate Settlement Procedures Act, the Truth in Lending Act, and the Home Ownership Equity Protection Act, as well as any regulations created under these acts.