Section 14300 - DefinitionsFor purposes of this chapter, the following terms shall have the following meanings:
(a) "Officer with a subject institution" means the position of director, officer, or employee with the subject institution.(b) "Subject institution" means any of the following:(1) A California credit union.(2) A subsidiary of a California credit union.(3) A foreign, whether other state or other nation, credit union, other than a federal credit union, that maintains an office in this state, with respect to the office.(4) Any other person, other than a federal credit union, conducting business in this state.(c) "Subject person," when used with respect to a subject institution, means any of the following: (1) A director, officer, employee, or agent of the subject institution.(2) A member, consultant, joint venture partner, or other person that participates in the affairs of a subject institution.(3) An independent contractor, including an appraiser or accountant, who knowingly or recklessly participates in any of the following acts if the act caused or is likely to cause a material financial loss to, or a significant adverse effect on, the subject institution. (A) A violation of any applicable law, regulation, or order.(B) A breach of fiduciary duty.(C) An unsafe or unsound act.(d) "Violation" includes any act done alone or with other persons for or toward causing, bringing about, participating in, counseling, aiding, or abetting a violation of any applicable statute, regulation, provision of a written order issued by the commissioner, or provision of a written operating agreement signed by the commissioner and a subject institution or subject person.Amended by Stats 2002 ch 734 (AB 2157),s 16, eff. 9/20/2002.Added by Stats 2002 ch 734 (AB 2157),s 18, eff. 9/20/2002.