CHAPTER 11. Foreign (Other State) Credit Unions [16000. - 16206.]

Heading of Chapter 11 renumbered from Chapter 10 (as added by Stats. 2000, Ch. 612) by Stats. 2002, Ch. 734, Sec. 42.

§§ 16000–16206 · 39 sections

1. ARTICLE 1. General Provisions §§ 16000–16013 · 14 sections

   • § 16000 This chapter may be cited as the “Foreign (Other State) Credit Union Law.”
   • § 16001 In this chapter: (a) “Branch business” means the business of issuing share accounts, certificates for funds, and share drafts, receiving deposits, paying…
   • § 16002 Nothing in this chapter shall be deemed to authorize a foreign (other nation) credit union to transact business in this state.
   • § 16003 No foreign (other state) credit union may establish or maintain a California branch office or California facility unless it is qualified to transact intrastate…
   • § 16004 No foreign (other state) credit union may establish a California branch office or California facility unless its deposit or share accounts are insured by the…
   • § 16005 Each application filed with the commissioner under this chapter or under any regulation or order issued under this chapter shall be in the form, shall contain…
   • § 16006 Fees shall be paid to and collected by the commissioner as follows: (a) The fee for an application by a foreign (other state) credit union that is not licensed…
   • § 16007 (a) Not less than 30 days before a foreign (other state) credit union establishes a California branch office or a California facility, the foreign (other…
   • § 16008 In administering the provisions of this chapter, the commissioner may share information with federal and home state regulators of foreign (other state) credit…
   • § 16009 A foreign (other state) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to the public which…
   • § 16010 No license shall be transferable or assignable.
   • § 16011 Whenever a foreign (other state) credit union is licensed to establish more than one office, it shall designate one of its offices as its primary office.
   • § 16012 Each foreign (other state) credit union that is licensed to establish an office shall conduct all of the business of the office in a single building or in…
   • § 16013 Whenever any provision of this chapter or of any regulation or order issued under this chapter which is applicable to or with respect to a foreign (other…
2. ARTICLE 2. Establishment of a California Branch Office or California Facility §§ 16020–16024 · 5 sections

   • § 16020 (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…
   • § 16021 (a) No foreign (other state) credit union shall establish or maintain a California branch office unless the commissioner shall have first approved its…
   • § 16022 (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…
   • § 16023 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)…
   • § 16024 (a) Within 30 days of establishing a California facility, a foreign (other state) credit union shall notify the commissioner in writing of its intent to…
3. ARTICLE 5. Relocation or Discontinuance of California Branch Office or California Facility §§ 16075–16077 · 3 sections

   • § 16075 Within 10 days of relocating a California branch office or California facility, a foreign (other state) credit union shall file a report with the commissioner…
   • § 16076 Not less than 30 days before a foreign (other state) credit union discontinues a California branch office or California facility, it shall file a report with…
   • § 16077 Promptly after a foreign (other state) credit union relocates or discontinues a California branch office or California facility pursuant to this article, the…
4. ARTICLE 6. Conduct of Credit Union Business §§ 16100–16103 · 4 sections

   • § 16100 (a) A foreign (other state) credit union that has a license to establish and maintain an office in this state may engage in activities at such office as may be…
   • § 16101 (a) The following provisions of this division apply to a foreign (other state) credit union that maintains a California branch office or California facility…
   • § 16102 (a) Any foreign (other state) credit union that is authorized to and does maintain a California branch office or California facility is exempted from the…
   • § 16103 (a) A foreign (other state) credit union that is licensed to establish and maintain an office or offices in this state shall keep the assets of the offices…
5. ARTICLE 7. Examination, Reports, and Records §§ 16150–16154 · 5 sections

   • § 16150 (a) The commissioner may at any time investigate into the affairs and examine the books, accounts, and other records of a foreign (other state) credit union…
   • § 16151 The commissioner may make any examination of a foreign (other state) credit union at any office of the commissioner. The commissioner may make an examination…
   • § 16152 (a) Each foreign (other state) credit union shall, within 10 days after receipt or within any extended time that the commissioner may specify, file with the…
   • § 16153 A foreign (other state) credit union shall file with the commissioner any other report as the commissioner may from time to time require. Each report shall be…
   • § 16154 A foreign (other state) credit union that maintains a California branch office or California facility, if required by the commissioner, shall make, keep, and…
6. ARTICLE 9. Enforcement §§ 16200–16206 · 8 sections

   • § 16200 (a) The commissioner may bring an action in the name of the people of this state in the superior court to enjoin any violation of, to enforce compliance with,…
   • § 16200.5 (a) If the commissioner finds that any person has violated, or that there is reasonable cause to believe that any person is about to violate, Section 16020,…
   • § 16201 If, after notice and hearing, the commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this…
   • § 16202 If, after notice and hearing, the commissioner finds any of the following with respect to a foreign (other state) credit union that is licensed to maintain an…
   • § 16203 (a) If the commissioner finds that any of the factors set forth in Section 16202 is true with respect to any foreign (other state) credit union that is…
   • § 16204 Any foreign (other state) credit union whose license to maintain an office is suspended or revoked shall immediately surrender the license to the commissioner.
   • § 16205 (a) Any foreign (other state) credit union to which an order is issued under Section 16202 or 16203 may apply to the commissioner to modify or rescind the…
   • § 16206 (a) If the commissioner finds that any of the factors set forth in Section 16202 is true with respect to any foreign (other state) credit union which is…