§ 16021
80 words·~1 min read·
/ca/financial-code/16021A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)No foreign (other state) credit union shall establish or maintain a California branch office unless the commissioner shall have first approved its establishment and issued a license authorizing the foreign (other state) credit union to maintain the California branch office.
(b)Notwithstanding subdivision (a), this article does not apply to any branch office or other office in this state of a foreign (other state) credit union that was established prior to January 1, 2001, in compliance with existing law.