Section 14652.5 Of Article 6. Investments From California Financial Code >> Division 5. >> Chapter 4. >> Article 6.
14652.5
. A credit union may organize, sponsor, operate, control, or
render investment advice to, an investment company, or underwrite,
distribute, or sell securities of any investment company which has
qualified to sell its securities in this state pursuant to Part 2
(commencing with Section 25100) of Division 1 of Title 4 of the
Corporations Code, if the officers and employees of the credit union
who sell these securities meet such standards with respect to
training, experience, and sales practices as established by the
Secretary of Business, Consumer Services, and Housing or the
secretary's designee. For the purpose of this section, "investment
company" means an investment company as defined in the Investment
Company Act of 1940 (15 U.S.C., Sec. 80a-1 et seq.).