California 2011-2012 Regular Session Status: Enacted

AB 1076 — Credit unions.

Last action — Chaptered by Secretary of State - Chapter 326, Statutes of 2011.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Assembly
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 18, 2011. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Existing law, the California Credit Union Law, provides for the regulation and certification of credit unions by the Commissioner of Financial Institutions. Existing law regulates loans to officials of a credit union and defines an official as a director, officer, or member of the supervisory committee or the credit committee of a credit union. Existing law prohibits a credit union from entering into any obligation with an official of the credit union, directly or indirectly, not fully secured by shares or certificates for funds unless specified requirements are satisfied. Existing law makes it a crime for specified employees of a credit union to knowingly permit, or participate in, the creation of an obligation that is not in conformity with the requirements of the Credit Union Law, except as specified. This bill would revise these requirements in order for a credit union to enter into an obligation, as defined, with an official of the credit union, directly or indirectly. The bill would, among other things, in order for a credit union to be authorized to enter into these obligations with an official, prohibit the aggregate amount of obligations outstanding to all officials, except obligations fully secured by shares, from exceeding 20% of the aggregate dollar amount of all savings capital of the credit union and would require that any obligation which would cause the aggregate amount of obligations outstanding to the official to exceed $50,000, excluding any portion fully secured by shares, be approved by the credit committee or credit manager, and by the board of directors of the credit union. Because knowingly creating or participating in the creation of an obligation in violation of these provisions by an employee of a credit union would be a crime, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 326, Statutes of 2011.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 11 a.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 76. Noes 0. Page 2847.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after September 2 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 2126.).

  7. Ordered to third reading.

  8. From consent calendar.

  9. Read second time. Ordered to consent calendar.

  10. From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and ordered to consent calendar.

  11. From committee: Do pass and re-refer to Com. on APPR. with recommendation: to consent calendar. (Ayes 6. Noes 0.) (June 29). Re-referred to Com. on APPR.

  12. In committee: Hearing postponed by committee.

  13. From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.I.

  14. Referred to Com. on B. & F.I.

  15. In Senate. Read first time. To Com. on RLS. for assignment.

  16. Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 1452.)

  17. Read second time. Ordered to consent calendar.

  18. From committee: Do pass. To consent calendar. (Ayes 16. Noes 0.) (May 11).

  19. From committee: Do pass and re-refer to Com. on APPR. with recommendation: to consent calendar. (Ayes 11. Noes 0.) (May 2). Re-referred to Com. on APPR.

  20. Re-referred to Com. on B. & F.

  21. From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.

  22. Referred to Com. on B. & F.

  23. From printer. May be heard in committee March 22.

  24. Read first time. To print.

Sponsors

  • Achadjian · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Achadjian

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

AB 1076 ACHADJIAN Concurrence in Senate Amendments

Passed 76 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 73004
Republican 2000
Democratic 1000
Total 76004
% of votes cast 95%0%0%5%
How each member voted (80)
Member Party Vote
Gorell — Not Voting
Halderman — Yea
Butler — Yea
Feuer — Yea
Carter — Yea
Cedillo — Yea
Fong — Yea
Cook — Yea
Allen — Yea
Alejo — Yea
Olsen — Yea
Williams — Yea
Yamada — Yea
Furutani — Yea
Campos — Yea
Portantino — Yea
John A. Pérez — Yea
Mitchell — Yea
Fletcher — Yea
Galgiani — Yea
Gatto — Yea
Chesbro — Yea
Gordon — Yea
Atkins — Yea
Hagman — Yea
Hall — Yea
Bonilla — Not Voting
Hayashi — Yea
Conway — Yea
Ammiano — Yea
Davis — Not Voting
Dickinson — Yea
Donnelly — Yea
Hill — Yea
Huber — Yea
Huffman — Yea
Knight — Yea
Lara — Yea
Mendoza — Yea
Miller — Yea
Monning — Yea
Nestande — Yea
Nielsen — Yea
Pan — Yea
Perea — Yea
Skinner — Yea
Smyth — Yea
Swanson — Yea
Torres — Yea
Wagner — Yea
Achadjian — Yea
Beall — Yea
Block — Yea
Blumenfield — Not Voting
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Yea
Hueso — Yea
Jeffries — Yea
Logue — Yea
Ma — Yea
Mansoor — Yea
Morrell — Yea
Norby — Yea
Silva — Yea
Solorio — Yea
Valadao — Yea
Wieckowski — Yea
Eng — Yea
Fuentes — Yea
Garrick — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Calderon, Lisa Democratic Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

3rd Reading AB1076 Achadjian By Vargas

Passed 38 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 35002
Republican 1000
Democratic 2000
Total 38002
% of votes cast 95%0%0%5%
How each member voted (40)
Member Party Vote
Yee — Yea
Cannella — Yea
Evans — Yea
Lowenthal — Yea
Corbett — Yea
De León — Yea
Fuller — Yea
Negrete McLeod — Yea
Hancock — Yea
Rubio — Yea
Hernandez — Yea
Runner — Not Voting
Dutton — Yea
Kehoe — Yea
Blakeslee — Yea
Leno — Yea
Lieu — Yea
Liu — Yea
Pavley — Yea
Price — Yea
Simitian — Yea
Vargas — Yea
Walters — Yea
Wolk — Yea
Wright — Yea
Alquist — Yea
Anderson — Yea
Harman — Not Voting
Huff — Yea
Steinberg — Yea
Wyland — Yea
Emmerson — Yea
Correa — Yea
DeSaulnier — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
La Malfa — Yea
Calderon, Lisa Democratic Yea
Padilla, Stephen C. Democratic Yea
Strickland, Tony Republican Yea

Official roll call →

AB 1076 ACHADJIAN Consent Calendar Second Day

Passed 78 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Republican 2000
Unaffiliated 73002
Democratic 3000
Total 78002
% of votes cast 98%0%0%3%
How each member voted (80)
Member Party Vote
Hall — Yea
John A. Pérez — Yea
Hagman — Yea
Butler — Yea
Carter — Yea
Huber — Yea
Perea — Yea
Cedillo — Yea
Hueso — Yea
Jeffries — Yea
Mitchell — Yea
Knight — Yea
Atkins — Yea
Logue — Yea
Miller — Yea
Pan — Yea
Chesbro — Yea
Cook — Yea
Donnelly — Yea
Yamada — Yea
Portantino — Yea
Campos — Yea
Furutani — Yea
Bonilla — Yea
Galgiani — Yea
Fletcher — Yea
Conway — Yea
Gordon — Yea
Gorell — Not Voting
Halderman — Yea
Alejo — Not Voting
Beall — Yea
Block — Yea
Davis — Yea
Hayashi — Yea
Ma — Yea
Mendoza — Yea
Monning — Yea
Morrell — Yea
Nielsen — Yea
Olsen — Yea
Silva — Yea
Smyth — Yea
Swanson — Yea
Torres — Yea
Wieckowski — Yea
Williams — Yea
Achadjian — Yea
Ammiano — Yea
Blumenfield — Yea
Bradford — Yea
Brownley — Yea
Buchanan — Yea
Harkey — Yea
Hill — Yea
Huffman — Yea
Lara — Yea
Mansoor — Yea
Nestande — Yea
Norby — Yea
Skinner — Yea
Solorio — Yea
Valadao — Yea
Wagner — Yea
Eng — Yea
Feuer — Yea
Dickinson — Yea
Fuentes — Yea
Garrick — Yea
Gatto — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Bonnie Lowenthal — Yea
Roger Hernández — Yea
V. Manuel Pérez — Yea
Allen, Benjamin Democratic Yea
Calderon, Lisa Democratic Yea
Fong, Mike Democratic Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass, to Consent Calendar.

Passed 16 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 15001
Democratic 1000
Total 16001
% of votes cast 94%0%0%6%
How each member voted (17)
Member Party Vote
Hall — Yea
Mitchell — Yea
Hill — Yea
Lara — Yea
Campos — Yea
Nielsen — Yea
Blumenfield — Yea
Donnelly — Not Voting
Solorio — Yea
Bradford — Yea
Harkey — Yea
Norby — Yea
Wagner — Yea
Davis — Yea
Fuentes — Yea
Gatto — Yea
Calderon, Lisa Democratic Yea

Official roll call →

Do pass and re-refer to Committee on Appropriations with recommendation: To Consent Calendar.

Passed 11 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 10000
Democratic 1001
Total 11001
% of votes cast 92%0%0%8%
How each member voted (12)
Member Party Vote
Fletcher — Yea
Eng — Yea
Gatto — Yea
Harkey — Yea
Lara — Yea
Morrell — Yea
Perea — Yea
Torres — Yea
Achadjian — Yea
Roger Hernández — Yea
Calderon, Lisa Democratic Not Voting
Fong, Mike Democratic Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 1076 do?
Existing law, the California Credit Union Law, provides for the regulation and certification of credit unions by the Commissioner of Financial Institutions. Existing law regulates loans to officials of a credit union and defines an official as a director, officer, or member of the supervisory committee or the credit committee of a credit union. Existing law prohibits a credit union from entering into any obligation with an official of the credit union, directly or indirectly, not fully secured by shares or certificates for funds unless specified requirements are satisfied. Existing law makes it a crime for specified employees of a credit union to knowingly permit, or participate in, the creation of an obligation that is not in conformity with the requirements of the Credit Union Law, except as specified. This bill would revise these requirements in order for a credit union to enter into an obligation, as defined, with an official of the credit union, directly or indirectly. The bill would, among other things, in order for a credit union to be authorized to enter into these obligations with an official, prohibit the aggregate amount of obligations outstanding to all officials, except obligations fully secured by shares, from exceeding 20% of the aggregate dollar amount of all savings capital of the credit union and would require that any obligation which would cause the aggregate amount of obligations outstanding to the official to exceed $50,000, excluding any portion fully secured by shares, be approved by the credit committee or credit manager, and by the board of directors of the credit union. Because knowingly creating or participating in the creation of an obligation in violation of these provisions by an employee of a credit union would be a crime, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.
Who sponsors AB 1076?
AB 1076 is sponsored by Achadjian.
What is the current status of AB 1076?
This bill has been enacted into law. Introduced February 18, 2011. Enacted.
Where can I track AB 1076?
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