§ 14453 Credit Union Board Duties

Financial Code·California

AI SummaryVerified

This law says the board of directors runs a credit union and must meet at least every three months. They can also create a small group to help make decisions.

Key Takeaways

•The board runs the credit union.
•They must meet at least every three months.
•They can pick a small team to help with decisions.

Example

A credit union's board meets every three months to talk about money and rules.

They decide how to manage the credit union and can pick a small team to help with decisions.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 14453 Credit Union Board Duties

The board of directors of every credit union shall have the general management of the affairs, funds, and records of the credit union. The board shall meet on a regular basis, not less than quarterly, as reasonably determined by the board. The board may appoint an executive committee of no fewer than three directors, to serve at its pleasure, to act as expressly approved by the board of directors in accordance with the laws and regulations. (Amended by Stats. 2016, Ch. 353, Sec. 3. (AB 2274) Effective January 1, 2017.)

Last verified: January 11, 2026

Key Terms

board of directors credit union general management executive committee

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14453.

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Key Takeaways

Example

Key Terms

Related Statutes

References