Assembly BillFailedFinancial
AB 1179: Credit unions.
What AB 1179 does, verified February 3, 2026
The bill aims to amend the California credit union law to update the notice period for suspending certain officers or members of the credit committee. Currently, the law requires a seven-day notice period, but the bill would reduce this to seven business days. This change would allow for a more efficient response to potential issues within the credit union.
Bill journey
✓IntroducedComplete
2In CommitteeCurrent
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. (2026-02-02)Alert me
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| Feb. 02, 2026 | From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. |
| Jan. 31, 2026 | Died pursuant to Art. IV, Sec. 10(c) of the Constitution. |
| Mar. 10, 2025 | Referred to Com. on B.&F. |
| Feb. 24, 2025 | Read first time. |
| Feb. 22, 2025 | From printer. May be heard in committee March 24. |
Latest bill textIntroduced version, February 21, 2025 · 314 words
CALIFORNIA LEGISLATURE— 2025–2026 REGULAR SESSION
Assembly Bill
No. 1179
| Introduced by Assembly Member Chen |
February 21, 2025 |
An act to amend Section 14552 of the Financial Code, relating to financial institutions.
LEGISLATIVE COUNSEL'S DIGEST
AB 1179, as introduced, Chen. Credit unions.
The California Credit Union Law provides for the licensure and regulation of credit unions by the Commissioner of Financial Protection and Innovation. The law requires a credit union to be directed by a board of directors, as provided. The law requires the officers of every credit union to include a chairman or president, one or more vice chairmen or vice presidents, a secretary and a treasurer or chief financial officer, as well as other officers as may be necessary, as provided. The law requires a credit union to have a credit committee, except as specified.
The law requires a credit union to have a supervisory committee, except as specified. The law requires the supervisory committee to notify members of a credit union within seven days after the suspension of any or all members of the credit committee, any member of the board of directors, or any other officer, as provided.
This bill would instead require the notice described above to be given within seven business days after the suspension of any or all members of the credit committee, any member of the board of directors, or any other officer.
The people of the State of California do enact as follows:
SECTION 1.
Section 14552 of the Financial Code is amended to read:14552.
The supervisory committee shall, within seven business days after suspension of any or all members of the credit committee, or any member of the board of directors, or any other officer, cause notice of a special meeting to be given to the members to take such action regarding the suspension as the members deem necessary.Text of AB 1179 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions