§ 14750 Credit Union Loan Violations

• •Applies to officers, directors, committee members, loan officers, and employees of a credit union.
• •Covers obligations created with nonmembers or that violate the credit union's rules.
• •Violations are punishable as a misdemeanor, unless an exception in Section 14950 applies.

A credit union manager approves a loan to a friend who isn’t a member of the credit union, even though the loan doesn't follow the credit union's lending rules.

Because the manager knowingly allowed an obligation to be created with a nonmember and it wasn't done according to the credit union's requirements, the manager could be charged with a misdemeanor under this statute.