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HomeFinancial CodeDiv. 5Ch. 6Art. 1§ 14856 Credit Union Share Liens

§ 14856 Credit Union Share Liens

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

§ 14856 Credit Union Share Liens

This law says a credit union can take money from your account if you owe them money or haven't paid fees.

Key Takeaways

  • •If you owe the credit union money, they can take it from your account.
  • •This includes loans, fees, or any charges you haven't paid.
  • •They can only take enough to cover what you owe.

Example

You take out a loan from your credit union but stop making payments.

The credit union can take money from your savings account to cover what you owe.

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

Official Source
View on CA.gov

§ 14856 Credit Union Share Liens

Every credit union may impress a lien upon the shares and dividends of any member to the extent of any obligations entered into with that member and for any dues or charges payable by that member. (Amended by Stats. 1984, Ch. 789, Sec. 9.)

Last verified: January 11, 2026

Key Terms

credit unionlienshares and dividendsobligationsdues or charges

Related Statutes

  • § 14851 Credit Union Share Issuance
  • § 14852 Credit Union Share Transfer Fees
  • § 14853 Minor Credit Union Accounts
  • § 14855 Credit Union Loan Certificates
  • § 14857 Member Share Cancellation Rights

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14856.
View Official Source