Can you summarize Fin Code CACL 1335?

Short Summary

A director of a bank, organized under the laws of this state, who concurs in any vote or act of the directors of such corporation, or any of them, by which it is intended to make a loan or discount to any director of such corporation, or upon paper upon which any such director is liable or responsible to an amount exceeding the amount allowed by the statutes is guilty of a misdemeanor. (Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)

Jurisdiction

California

Source

Fin Code CACL 1335 [https://reggi.cloud.regology.com/regulations/US-CACL/US-CACL_T_FIN_T_1.1_C_10_SC_1_S_1335]

• Banking