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DIVISION 5. CREDIT UNIONS 14000-16906›CHAPTER 7. Loans 14950-15103›ARTICLE 3. Loans to Directors, Officers and Committee Members 15050-15051

§ 15051

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

The board of directors shall declare the office of any director, officer, committee member, or the credit manager vacant if the person fails to reduce any obligation to the credit union for which he or she is liable in a timely manner according to the terms of the obligation.

(Amended by Stats. 1984, Ch. 789, Sec. 16.)

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California Financial Code

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