California · Financial Code

FIN §14755: Any director, officer, agent, or employee of any credit union who knowingly receives or possesses the credit union’s property otherwise than in payment of a just demand with intent to defraud, omits t

Felony

What this law says, in plain English

A credit union director, officer, agent, or employee who knowingly takes the credit union's property with intent to defraud or fails to record it truthfully in the books commits a felony.

Read the full statutory text
Any director, officer, agent, or employee of any credit union who knowingly receives or possesses the credit union’s property otherwise than in payment of a just demand with intent to defraud, omits to make or omits to cause to be made a full and true entry thereof in the credit union’s books and accounts, or concurs in omitting to make any material entry thereof, is guilty of a felony.

Verify at the official source: California legislative text

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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.