14954. For the purposes of this chapter, a person who is not an applicant for an extension of credit or the creation of an obligation with the credit union but guarantees performance of the underlying obligation is a surety. A surety may act as security pursuant to subdivision (a) of Section 14955.(Amended by Stats. 1985, Ch. 951, Sec. 14.)
California Legal Code
§ 14954
Source: https://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=FIN&division=5.&title=&part=&chapter=7.&article=1.· Version 2026