Cal. Financial Code § 14659
Cal. Financial Code § 14659
California · California Financial Code · Status: effective · Effective 2019-01-01
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- Citation
- Cal. Financial Code § 14659, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/814547
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Full text
(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.