Fin. Code, § 14659 · Article 6. Investments
Fin. Code, § 14659
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A credit union that is investing to fund an employee benefit plan obligation may purchase an investment that would otherwise be impermissible if the investment is directly related to the credit union’s obligation or potential obligation under the employee benefit plan and the credit union holds the investment only for as long as it has an actual or potential obligation under the employee benefit plan.
(b) For purposes of this section, specific authorization pursuant to Section 14653.5 is not required.
Notes and commentary — not statutory text
History
Added by Stats. 2018, Ch. 267, Sec. 4. (AB 2862) Effective January 1, 2019.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=14659.
- Text hash
- sha256 aa4ce45747bec51a85247a9b48b22258afd49c33a3e10c1d41a1021e4b6220c7
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Financial Code
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