California · Insurance Code

INS §11163: It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, trustee, agent or employee of a fraternal benefit society to ask, receive, or

Felony

What this law says, in plain English

Officers, trustees, agents, or employees of fraternal benefit societies commit a felony by soliciting or accepting anything of value for procuring loans from the society's trust funds.

Read the full statutory text
It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, trustee, agent or employee of a fraternal benefit society to ask, receive, or consent or agree to receive anything of value for procuring or endeavoring to procure a loan to any person from the trust funds of, or funds belonging to, a fraternal benefit society.

Verify at the official source: California legislative text

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