§ 11162. — 11162. (Amended by Stats. 2011, Ch. 15, Sec. 215.)

California § 11162.

• Jurisdiction: California
• Code INS: Insurance Code - INS
• Div. 2.: DIVISION 2. CLASSES OF INSURANCE
• Part 2.: PART 2. LIFE AND DISABILITY INSURANCE
• Ch. 10.: CHAPTER 10. Fraternal Benefit Societies
• Art. 8.: ARTICLE 8. Violations and Penalties

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.
(c)
In any manner be obligor for moneys borrowed or loaned by such society.

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.