California Insurance Code

§ 11162

INS § 11162 Effective Apr 4, 2011Div. 2 · Part 2 · Ch. 10 · Art. 8

Statute text

It is a felony, punishable by imprisonment pursuant to subdivision (h) of Section 1170 of the Penal Code, for any officer, director, agent or employee of any fraternal benefit society to, directly or indirectly, for himself or as partner or agent of others:

(a)Borrow any of the funds of such society.

(b)Become endorser or surety for loans by the society to others.

…

Legislative history

Amended by Stats. 2011, Ch. 15, Sec. 215. (AB 109) Effective April 4, 2011. Operative October 1, 2011, by Sec. 636 of Ch. 15, as amended by Stats. 2011, Ch. 39, Sec. 68.