§ 14554 Supervisory Committee Restrictions

Financial Code·California

AI SummaryVerified

This law says that someone on the supervisory committee of a credit union can't also be on the credit committee, be the credit manager, be on the board of directors, or work as an employee of the same credit union.

Key Takeaways

•A person on the supervisory committee can't have another big job at the credit union.
•This rule keeps things fair and stops one person from having too much power.
•It applies to jobs like credit manager, board member, or any employee role.

Example

Imagine John is on the supervisory committee at his local credit union.

John cannot also be the credit manager or work as a teller at the same credit union. He has to choose one role.

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

Official Source

View on CA.gov

§ 14554 Supervisory Committee Restrictions

No member of the supervisory committee shall serve as a member of the credit committee, as the credit manager, as a member of the board of directors, or as an employee of the credit union. (Amended by Stats. 1982, Ch. 691, Sec. 6.)

Last verified: January 11, 2026

Key Terms

supervisory committee credit committee credit manager board of directors employee of the credit union

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14554.

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Key Terms

Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References