California Financial Code

§ 16550

FIN § 16550 Effective Jan 1, 2001Div. 5 · Ch. 12 · Art. 3

Statute text

(a)No foreign (other nation) credit union shall transact business in this state except at a branch office or agency 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 nation) 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. 4. Effective January 1, 2001.