§ 16023
74 words·~1 min read·
/ca/financial-code/16023A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The approval of an application for approval to establish a California branch office shall be revoked by operation of law if the applicant foreign (other state) credit union does not establish and maintain the California branch office within one year after the date of the approval, unless prior to the expiration of the one-year period the commissioner extends the time within which the foreign (other state) credit union may establish the California branch office.