California Financial Code

§ 16530

FIN § 16530 Effective Jan 1, 2001Div. 5 · Ch. 12 · Art. 2

Statute text

The approval of an application for approval to establish a representative office shall be revoked by operation of law if the applicant foreign (other nation) credit union does not establish and maintain the 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 nation) credit union may establish the representative office.

Legislative history

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.