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2021 California Code
Insurance Code - INS
DIVISION 2 - CLASSES OF INSURANCE
PART 2 - LIFE AND DISABILITY INSURANCE
CHAPTER 10 - Fraternal Benefit Societies
ARTICLE 8 - Violations and Penalties
Section 11162.
Universal Citation: CA Ins Code § 11162 (2021)
11162.
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.
(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.)
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