California · Financial Code
FIN §14605: A credit manager shall not disburse or have the authority to authorize any person to disburse the proceeds of any loan.
What this law says, in plain English
Credit managers are prohibited from disbursing loan proceeds or authorizing others to do so.
Read the full statutory text
A credit manager shall not disburse or have the authority to authorize any person to disburse the proceeds of any loan. A credit manager shall not authorize or make loans to other credit unions.
Verify at the official source: California legislative text
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