California § 14408 - No credit union shall make any gift or donation having a value in excess of twent
Full text of California Public Contract Code - PCC § 14408 — No credit union shall make any gift or donation having a value in excess of twent, with citation guidance and answers to common questions.
§ 14408. No credit union shall make any gift or donation having a value in excess of twent
No credit union shall make any gift or donation having a value in excess of twenty-five thousand dollars ($25,000) unless the gift or donation is in the best interest of the credit union, is approved by a resolution of the board of directors and is in conformance with any regulation or order that the commissioner may issue. The resolution of the board of directors approving the gift or donation shall identify the recipient of the gift or donation, state the value of the gift or donation, and specify the basis for the boardâs determination that the gift or donation is in the best interests of the credit union. The board may establish a budget for gifts and donations and authorize appropriate officials of the credit union to select recipients and disburse budgeted funds among those recipients.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 14408
What does Public Contract Code - PCC § 14408 cover?
Section 14408 ("No credit union shall make any gift or donation having a value in excess of twent") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 14408?
A common citation format is "Public Contract Code - PCC § 14408" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 14408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.