Section 14952 Of Article 1. General From California Financial Code >> Division 5. >> Chapter 7. >> Article 1.
14952
. (a) The board of directors of a credit union shall establish
the maximum amount that the credit union may lend to a member under
18 years of age in any case other than a case (1) where the member is
an emancipated minor or (2) where the loan is secured in the manner
provided for in Section 14955.
(b) No credit union shall make a loan to a member under 18 years
of age that will result in the member being obligated to the credit
union in excess of the maximum amount established by the board of
directors pursuant to subdivision (a) unless the member is an
emancipated minor or the loan is secured in the manner provided for
in Section 14955.