California Financial Code

§ 16020

FIN § 16020 Effective Jan 1, 2001Div. 5 · Ch. 11 · Art. 2

Statute text

(a)Except for the activities described in paragraph (2) of subdivision (c) of Section 16001, no foreign (other state) credit union shall transact business in this state except at a branch office or facility that it is licensed to maintain and at which it is permitted by this chapter to transact the business transacted.

(b)Subdivision (a) shall not be deemed to prohibit any of the following:

(1)Any foreign (other state) credit union from carrying on the activities described in subdivision (d) of Section 191 of the Corporations Code.

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Legislative history

Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.