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Earlier editions: 2020-112018-11

DIVISION 2. CLASSES OF INSURANCE 1880-12880.8›PART 2. LIFE AND DISABILITY INSURANCE 10110-11549›CHAPTER 10. Fraternal Benefit Societies 10970-11165›ARTICLE 8. Violations and Penalties 11160-11165

§ 11162

California Insurance Code · 2026 edition · updated 2026-10-04 · California

It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, director, agent or employee of any fraternal benefit society to, directly or indirectly, for himself or as partner or agent of others:

(a) Borrow any of the funds of such society.

(b) Become endorser or surety for loans by the society to others.

(c) In any manner be obligor for moneys borrowed or loaned by such society.

(Amended by Stats. 2011, Ch. 15, Sec. 215. (AB 109) Effective April 4, 2011. Operative October 1, 2011, by Sec. 636 of Ch. 15, as amended by Stats. 2011, Ch. 39, Sec. 68.)

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