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HomeFinancial CodeDiv. 5Ch. 3Art. 2§ 14253 Credit Union Financial Reporting

§ 14253 Credit Union Financial Reporting

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

§ 14253 Credit Union Financial Reporting

The law requires a credit union to give the state regulator its unaudited financial statements—including a balance sheet and income statement—when asked, and the regulator can ask for these reports monthly or on other schedules.

Key Takeaways

  • •Submit unaudited financial statements when requested.
  • •Include a balance sheet and income statement prepared under generally accepted accounting principles.
  • •Reports can be required monthly or on other periodic bases.

Example

The state banking commissioner asks a credit union to provide its financial statements for the past quarter.

The credit union must prepare and send an unaudited balance sheet and income statement that follow standard accounting rules, covering the exact date and period the commissioner specifies.

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

Official Source
View on CA.gov

§ 14253 Credit Union Financial Reporting

A credit union shall, when requested by the commissioner, submit its unaudited financial statements, prepared in accordance with generally accepted accounting principles and consisting of at least a balance sheet and statement of income as of the date and for the period specified by the commissioner. The commissioner may require the submission of such reports on a monthly or other periodic basis. (Repealed and added by Stats. 1979, Ch. 112.)

Last verified: January 11, 2026

Key Terms

credit unionunaudited financial statementsgenerally accepted accounting principlesbalance sheetstatement of incomecommissioner

Related Statutes

  • § 18407 Industrial Loan Financial Reporting
  • § 14250 Credit Union Examinations
  • § 14254.5 Branch Office Notification
  • § 14255 Credit Union Special Reports
  • § 14256 Failure To File Reports

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 14253.
View Official Source