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HomeFinancial CodeDiv. 5Ch. 4Art. 8§ 14753 Credit Union Bribery Prohibition

§ 14753 Credit Union Bribery Prohibition

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 14753 Credit Union Bribery Prohibition

This law says it’s a serious crime for a credit union leader or worker to take money or gifts for helping someone get a loan, a discount on a financial paper, or to let someone overdraw their account.

Key Takeaways

  • •Directors, officers, and employees of a credit union are covered.
  • •Taking any money, property, or valuable thing for personal benefit is illegal.
  • •The illegal acts include helping get a loan, buying or discounting a note or check, or letting someone overdraw an account.
  • •Doing any of these is a felony.

Example

A credit union employee asks a friend for cash and then approves the friend’s loan request that would normally be denied.

Because the employee took money for personal gain to get the loan approved, they have broken this law and could be charged with a felony.

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

Official Source
View on CA.gov

§ 14753 Credit Union Bribery Prohibition

Any director, officer, or employee of a credit union who asks for, receives, or agrees to receive any money, property, or thing of value for his personal benefit or advantage for (a) procuring or attempting to procure for any person any loan from that credit union, (b) for the purchase or discount of any note, draft, check, bill of exchange, or other obligation by that credit union, or (c) for permitting any person to overdraw any account with that credit union, is guilty of a felony. (Added by Stats. 1986, Ch. 673, Sec. 2.)

Last verified: January 11, 2026

Key Terms

directorofficeremployeecredit unionfelonypersonal benefitloanoverdraw

Related Statutes

  • § 14754 Credit Union Overdraft Fraud
  • § 14756 Credit Union Officer False Reporting
  • § 14758 Credit Union Deposit Kickbacks
  • § 1323 Bank Employee Bribery Prohibition
  • § 14751 Credit Union Officer Liability

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14753.
View Official Source