California 2015-2016 Regular Session Status: Enacted

AB 2274 — Credit unions.

Last action — Chaptered by Secretary of State - Chapter 353, Statutes of 2016.

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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, 2016. 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

(1) The California Credit Union Law provides for the regulation of credit unions within the state by the Commissioner of Business Oversight. The law requires a credit union to be directed by a board of directors consisting of an odd number of directors, at least 5 in number, each of whom are a member of the credit union, to be elected by the members at their annual meeting. The law requires a credit union to have a supervisory committee of at least 3 persons, each of whom is a member of the credit union. The law authorizes the directors to delegate the approval of applications for new memberships to any officer, director, committee member, or employee pursuant to a written membership plan adopted by the board, provided the board reviews, at least quarterly, a report of membership applications approved by an officer, director, committee member, or employee. This bill would require the board to meet on a regular basis, not less than quarterly, as reasonably determined by the board. The bill would require the membership of the supervisory committee to be an odd number and would authorize, in lieu of the requirement for a supervisory committee, the establishment of an audit committee and the selection of the members of the audit committee. The bill would remove the requirement for the directors to, at least quarterly, review a report of membership applications approved by an officer, director, committee member, or employee to whom the directors delegated the authority to approve applications for new membership. (2) The California Credit Union Law prohibits an obligation with a member that is not a natural person and results in liability to the credit union in excess of that member's investment in the credit union unless an exception is authorized in the credit union's bylaws and approved by the commissioner. The law authorizes any lending activity permitted pursuant to this provision to be terminated by the commissioner pursuant to a specific procedure. This bill would repeal this prohibition. (3) The California Credit Union Law limits the circumstances when a nonmember may participate in an obligation or extension of credit to a member as a joint applicant or co-obligor. This bill would include the terms coborrower, surety, and guarantor within these provisions. (4) The California Credit Union Law limits a credit union from entering, directly or indirectly, into any obligation with an official, and defines that term to mean a director, officer, member of the supervisory committee, or member of the credit committee of a credit union. This bill would modify that definition to remove the position of an officer, and to include the positions of a member of the audit committee, credit manager, president, and chief executive officer of a credit union. (5) The California Credit Union Law requires any application for any loan or extension or guarantee of credit, except as specified, to state in writing the purpose for which the loan or extension or guarantee of credit is desired, and, if applicable, describe the property that is proposed to secure the loan or extension or guarantee of credit. This bill would repeal this requirement.

Bill Text

Action History

  1. Chaptered by Secretary of State - Chapter 353, Statutes of 2016.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 4:30 p.m.

  4. Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 6043.).

  5. In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 18 pursuant to Assembly Rule 77.

  6. Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 4982.).

  7. Read second time. Ordered to third reading.

  8. Read third time and amended. Ordered to second reading.

  9. Ordered to third reading.

  10. From Consent Calendar.

  11. Read second time. Ordered to Consent Calendar.

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

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

  14. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 15). Re-referred to Com. on APPR.

  15. In committee: Hearing postponed by committee.

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

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

  18. Read third time. Passed. Ordered to the Senate. (Ayes 79. Noes 0. Page 4463.)

  19. Read second time. Ordered to Consent Calendar.

  20. From committee: Do pass. To Consent Calendar. (Ayes 20. Noes 0.) (April 13).

  21. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 4). Re-referred to Com. on APPR.

  22. In committee: Set, first hearing. Hearing canceled at the request of author.

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

  24. From printer. May be heard in committee March 20.

  25. Read first time. To print.

Sponsors

  • Dababneh · Primary

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

  • Dababneh

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 2274 DABABNEH Concurrence in Senate Amendments

Passed 78 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 68002
Democratic 5000
Republican 5000
Total 78002
% of votes cast 98%0%0%3%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Baker — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Holden — Yea
Jones-Sawyer — Yea
Levine — Yea
Maienschein — Yea
Mathis — Yea
McCarty — Yea
Mullin — Yea
Obernolte — Yea
Ridley-Thomas — Yea
Santiago — Yea
Steinorth — Yea
Waldron — Yea
Eggman — Yea
Cooper — Yea
Burke — Yea
Frazier — Yea
Gatto — Yea
Gomez — Yea
Gordon — Yea
Salas — Yea
Harper — Yea
Kim — Yea
Linder — Yea
Low — Yea
Chang — Yea
Mayes — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooley — Yea
Nazarian — Yea
O'Donnell — Yea
Olsen — Yea
Rendon — Yea
Rodriguez — Yea
Thurmond — Yea
Weber — Yea
Wilk — Yea
Williams — Yea
Gray — Yea
Hadley — Yea
Atkins — Yea
Campos — Yea
Bonilla — Yea
Lopez — Yea
Dababneh — Yea
Daly — Yea
Bigelow — Yea
Dodd — Yea
Medina — Yea
Melendez — Not Voting
Quirk — Yea
Ting — Yea
Wagner — Yea
Wood — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Not Voting
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

3rd Reading AB2274 Dababneh By Glazer

Passed 38 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 35001
Democratic 3000
Total 38001
% of votes cast 97%0%0%3%
How each member voted (39)
Member Party Vote
Anderson — Yea
Bates — Yea
Hancock — Yea
Hill — Yea
Lara — Yea
Liu — Yea
Mendoza — Yea
Nielsen — Yea
Vidak — Yea
Wieckowski — Yea
Allen — Yea
Cannella — Yea
Fuller — Yea
Mitchell — Yea
De León — Yea
Galgiani — Yea
Hall — Yea
Hernandez — Yea
Hertzberg — Yea
Beall — Yea
Block — Yea
Hueso — Yea
Huff — Yea
Leno — Yea
Leyva — Yea
Monning — Yea
Moorlach — Yea
Morrell — Yea
Pan — Yea
Pavley — Yea
Roth — Yea
Wolk — Yea
Glazer — Yea
Beth Gaines — Yea
Bill Berryhill — Not Voting
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

AB 2274 DABABNEH Consent Calendar Second Day

Passed 79 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
Unaffiliated 69001
Democratic 5000
Republican 5000
Total 79001
% of votes cast 99%0%0%1%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Alejo — Yea
Baker — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Harper — Yea
Low — Yea
Mathis — Yea
Melendez — Yea
Obernolte — Yea
Ridley-Thomas — Not Voting
Rodriguez — Yea
Thurmond — Yea
Wagner — Yea
Eggman — Yea
Cooper — Yea
Daly — Yea
Frazier — Yea
Atkins — Yea
Campos — Yea
Bonilla — Yea
Lopez — Yea
Holden — Yea
Maienschein — Yea
Medina — Yea
Mullin — Yea
Quirk — Yea
Santiago — Yea
Ting — Yea
Wood — Yea
Salas — Yea
Gatto — Yea
Gomez — Yea
Burke — Yea
Gordon — Yea
Chang — Yea
Jones-Sawyer — Yea
Kim — Yea
Levine — Yea
Linder — Yea
Gray — Yea
Mayes — Yea
Bigelow — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Yea
Cooley — Yea
Dababneh — Yea
Dodd — Yea
McCarty — Yea
Nazarian — Yea
O'Donnell — Yea
Olsen — Yea
Rendon — Yea
Steinorth — Yea
Waldron — Yea
Weber — Yea
Wilk — Yea
Williams — Yea
Hadley — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Yea
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 20 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 16000
Democratic 2000
Republican 2000
Total 20000
% of votes cast 100%0%0%0%
How each member voted (20)
Member Party Vote
Bloom — Yea
Holden — Yea
Santiago — Yea
Eggman — Yea
Daly — Yea
Bonilla — Yea
Chang — Yea
Bigelow — Yea
Obernolte — Yea
Quirk — Yea
Wagner — Yea
Weber — Yea
Wood — Yea
Eduardo Garcia — Yea
Lorena Gonzalez — Yea
Roger Hernández — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gallagher, James Republican Yea
Jones, Brian W. Republican 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 2274 do?
(1) The California Credit Union Law provides for the regulation of credit unions within the state by the Commissioner of Business Oversight. The law requires a credit union to be directed by a board of directors consisting of an odd number of directors, at least 5 in number, each of whom are a member of the credit union, to be elected by the members at their annual meeting. The law requires a credit union to have a supervisory committee of at least 3 persons, each of whom is a member of the credit union. The law authorizes the directors to delegate the approval of applications for new memberships to any officer, director, committee member, or employee pursuant to a written membership plan adopted by the board, provided the board reviews, at least quarterly, a report of membership applications approved by an officer, director, committee member, or employee. This bill would require the board to meet on a regular basis, not less than quarterly, as reasonably determined by the board. The bill would require the membership of the supervisory committee to be an odd number and would authorize, in lieu of the requirement for a supervisory committee, the establishment of an audit committee and the selection of the members of the audit committee. The bill would remove the requirement for the directors to, at least quarterly, review a report of membership applications approved by an officer, director, committee member, or employee to whom the directors delegated the authority to approve applications for new membership. (2) The California Credit Union Law prohibits an obligation with a member that is not a natural person and results in liability to the credit union in excess of that member's investment in the credit union unless an exception is authorized in the credit union's bylaws and approved by the commissioner. The law authorizes any lending activity permitted pursuant to this provision to be terminated by the commissioner pursuant to a specific procedure. This bill would repeal this prohibition. (3) The California Credit Union Law limits the circumstances when a nonmember may participate in an obligation or extension of credit to a member as a joint applicant or co-obligor. This bill would include the terms coborrower, surety, and guarantor within these provisions. (4) The California Credit Union Law limits a credit union from entering, directly or indirectly, into any obligation with an official, and defines that term to mean a director, officer, member of the supervisory committee, or member of the credit committee of a credit union. This bill would modify that definition to remove the position of an officer, and to include the positions of a member of the audit committee, credit manager, president, and chief executive officer of a credit union. (5) The California Credit Union Law requires any application for any loan or extension or guarantee of credit, except as specified, to state in writing the purpose for which the loan or extension or guarantee of credit is desired, and, if applicable, describe the property that is proposed to secure the loan or extension or guarantee of credit. This bill would repeal this requirement.
Who sponsors AB 2274?
AB 2274 is sponsored by Dababneh.
What is the current status of AB 2274?
This bill has been enacted into law. Introduced February 18, 2016. Enacted.
Where can I track AB 2274?
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