Section 14761 Of Article 8. Penalties From California Financial Code >> Division 5. >> Chapter 4. >> Article 8.

. Any officer or agent of any credit union who makes or delivers any guaranty or endorsement on behalf of the credit union whereby the credit union may become liable upon any of the credit union's discounted notes, bills, or obligations in a sum beyond the amount of loans and discounts which the credit union may lawfully make, is guilty of a misdemeanor.