CaliforniaCredit unions.
What it does
The California Credit Union Law provides for the licensure and regulation of credit unions by the Commissioner of Financial Protection and Innovation. The law requires a credit union to be directed by a board of directors, as provided. The law requires the officers of every credit union to include a chairman or president, one or more vice chairmen or vice presidents, a secretary and a treasurer or chief financial officer, as well as other officers as may be necessary, as provided.
More detail
The law requires a credit union to have a credit committee, except as specified.
The law requires a credit union to have a supervisory committee, except as specified. The law requires the supervisory committee to notify members of a credit union within seven days after the suspension of any or all members of the credit committee, any member of the board of directors, or any other officer, as provided.
This bill would instead require the notice described above to be given within seven business days after the suspension of any or all members of the credit committee, any member of the board of directors, or any other officer.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.Latest
- Jan 31Died pursuant to Art. IV, Sec. 10(c) of the Constitution.Major
- 2025
- Mar 10Referred to Com. on B.&F.Minor
- Feb 24Read first time.Minor
- Feb 22From printer. May be heard in committee March 24.
- Feb 21Introduced. To print.Introduced