Cal. Fin. Code § 14765

Current through the 2024 Legislative Session.

Section 14765 - [Effective Until 1/1/2025] Purchase of credit union assets for less than fair market value

No officer, director, or employee of a credit union shall purchase, directly or indirectly, or be interested in the purchase of, any of the credit union's assets for an amount less than the then current market value thereof. Every person violating this section shall be liable to the people of this state for each offense in the amount of twice the market value of the assets so purchased.

Ca. Fin. Code § 14765

Added by Stats. 1986, Ch. 673, Sec. 14.

This section is set out more than once due to postponed, multiple, or conflicting amendments.