This law means that if someone in a credit union, like an officer or an employee, allows or helps to create a financial obligation that involves someone who isn’t a member, or that doesn’t follow the credit union’s rules, they can be charged with a misdemeanor. The exception to this rule is outlined in another section.

If someone in a key position at a credit union, like an officer or loan officer, breaks certain rules about creating financial obligations (as outlined in another section), they are responsible for paying back the credit union for any such obligation that was improperly set up. Even if they argue that the obligation was created illegally, this will not protect them from having to pay back the amount to the credit union.

This law states that if someone intentionally breaks a rule or provision in this part of the financial code, they can be fined up to $10,000 or jailed for up to a year, or both. However, imprisonment for breaking a rule or order can only happen if the person knew about that rule or order. Additionally, even if someone is convicted, it doesn't prevent the commissioner from using their administrative powers described in another section.

This law makes it a serious crime (a felony) for anyone working at a credit union to take bribes or personal benefits for arranging loans, facilitating the purchase or discounting of financial documents, or allowing account overdrafts.

This law says that if someone who works at a credit union, like a director or employee, knowingly takes out more money than they have in their account without having prior approval for an overdraft through a proper agreement, they are committing a felony.

This law states that if someone working for a credit union, like a director or employee, intentionally takes or uses the credit union's property in a way that's not for settling a legitimate debt and does this with the intention to cheat or deceive, they are committing a felony. It also applies if they fail to record these actions accurately in the credit union's financial records or help in falsifying these records.

If a director, officer, agent, or employee of a credit union is involved in knowingly making false statements about the credit union's financial status, refuses to properly maintain the credit union's financial books, or denies access to inspectors, they commit a felony.

This law states that if someone working for a credit union, such as a director, officer, or employee, deposits the credit union's money with another person and expects or arranges for that person to give a loan back to any credit union insider, they are committing a felony. It doesn't matter if this expectation is clearly stated or just understood.

This law states that anyone working at a credit union, such as an officer, director, employee, or agent, commits a felony if they intentionally make false or misleading entries in records, reports, or statements regarding the credit union’s operations or financial condition.

This includes actions intended to deceive officials or examiners, either from within the credit union or from external authorities, as well as the omission, alteration, concealment, or destruction of required records.

This law states that a director of a credit union is committing a misdemeanor if they are involved in fraudulent insolvency. This means that if the credit union goes bankrupt through deceitful actions and the director was part of that fraud, they are guilty of a crime.

Additionally, if a director deliberately does something illegal in their role or neglects a legal duty, they are guilty of a misdemeanor. A credit union's insolvency is considered fraudulent unless an investigation shows it was managed legally and responsibly.

This law states that if an officer or agent of a credit union guarantees or endorses a financial obligation that pushes the credit union's liabilities beyond legal lending limits, they are committing a misdemeanor. In simple terms, it's illegal for them to put the credit union at financial risk by exceeding what they're allowed to lend or discount.

This law says that if a director of a credit union agrees to lend or give a discount to another director of the same credit union that goes over the legal limit, they have committed a misdemeanor. In simple terms, it's illegal for credit union directors to approve loans to themselves or other directors that break lending rules.

This law states that if any officer or employee of a credit union hides loans or discounts given between board meetings from the credit union's directors, or hides securities transactions during that time, they are committing a misdemeanor. Additionally, failing to report these activities to the board when legally required is also a misdemeanor.

A credit union cannot buy property or any interest in property if one of its officers, directors, or employees has a personal or financial stake in it. This includes leases, contracts, notes, or bonds. They must get written permission from the commissioner before proceeding with such a purchase.

This California law states that officers, directors, or employees of a credit union are prohibited from buying or having an interest in buying the credit union's assets for less than their current market value. If they do, they can be fined up to twice the asset's market value.

To determine an asset's market value, the credit union can average the values given by two independent, industry-recognized third parties. The law does make exceptions, allowing the purchase of used credit union equipment or furnishings if the total market value is $500 or less. Additionally, the credit union can gift items to officers or directors as long as the gift value doesn't exceed $500.

This section states that no officer, director, or employee of a credit union can buy the credit union’s debts for less than their recorded value, unless the credit union's board of directors agrees to it beforehand and informs the commissioner afterward. Violators must pay double the debt's value as a penalty. Additionally, the board must create a policy based on standard accounting rules to determine how the book value is calculated.

This law makes it illegal for someone to knowingly submit false information or leave out important details in any document filed with the commissioner. Basically, any critical fact that's required must be included, and no lies are allowed.

This law states that if someone working for a credit union, like an officer or employee, steals or misuses the credit union's money, property, or credit on purpose, they are committing a felony crime. In addition to regular punishments, the person must repay what they took. This law does not change any existing laws about punishment for such crimes.