DIVISION 5. CREDIT UNIONS 14000-16906›CHAPTER 7. Loans 14950-15103›ARTICLE 1. General 14950-14961

§ 14959

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

(a) A credit union may participate in loans made to its members jointly with other credit unions, corporations or financial organizations.

(b) A credit union may participate in a loan originated by another credit union which is made to a member of the originating credit union even though the member is not also a member of the credit union participating in the loan. A loan participation that is authorized by this subdivision shall not be deemed to be an obligation or a participation in an obligation with a nonmember within the meaning of Section 14750.

(Amended by Stats. 1998, Ch. 539, Sec. 37. Effective January 1, 1999.)

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California Financial Code

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