California Financial Code

§ 16022

FIN § 16022 Effective Jan 1, 2001Div. 5 · Ch. 11 · Art. 2

Statute text

(a)If the commissioner finds all of the following with respect to an application by a foreign (other state) credit union for approval to establish a California branch office, the commissioner shall approve the application:

(1)That the foreign (other state) credit union, the directors and officers of the foreign (other state) credit union, and the proposed management of the branch office are each of good character and sound financial standing.

(2)That the financial history and condition of the foreign (other state) credit union are satisfactory.

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Legislative history

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