California § 63089.65 - A corporation shall establish one or more loan committees, each of which shall be
Full text of California Public Contract Code - PCC § 63089.65 — A corporation shall establish one or more loan committees, each of which shall be, with citation guidance and answers to common questions.
§ 63089.65. A corporation shall establish one or more loan committees, each of which shall be
(a) A corporation shall establish one or more loan committees, each of which shall be composed of five or more persons, a majority of whom shall be experienced in banking and lending operations. (b) A loan committee shall review applications to the corporation for a loan or guarantee and shall do each of the following: (1) Determine the feasibility of the proposed transaction. The loan committee shall recommend approval of the application only upon a determination that there is a reasonable chance that the loan will be repaid. (2) On the basis of that determination, recommend to the board of directors any action that the loan committee deems appropriate under the circumstances, or, in the event that approval authority has been delegated to the loan committee by the board of directors, approve or disapprove the loan application. (c) A loan committee shall expeditiously act to accept or reject loan applications. (d) A person who has a financial interest related to a matter over which the loan committee has authority may not make, participate in making, or in any way attempt to influence that matter.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 63089.65
What does Public Contract Code - PCC § 63089.65 cover?
Section 63089.65 ("A corporation shall establish one or more loan committees, each of which shall be") 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 § 63089.65?
A common citation format is "Public Contract Code - PCC § 63089.65" (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 § 63089.65 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.