reglab/statecodes huggingface dataset:
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 2 - Establishment of a California Branch Office or California Facility › Section 16023.

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) credit union does not establish and maintain the California branch 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 state) credit union may establish the California branch office.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 2 - Establishment of a California Branch Office or California Facility › Section 16024.

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 establish a California facility. The notice shall identify the proposed location of the facility, describe its proposed activities, and contain any other information which the commissioner may by regulation or order specify.
(b) A foreign (other state) credit union shall not commence business at a proposed facility without a license having been issued by the commissioner.
(Amended by Stats. 2001, Ch. 159, Sec. 93. Effective January 1, 2002.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 5 - Relocation or Discontinuance of California Branch Office or California Facility › Section 16075.

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 which contains the information specified by the commissioner by regulation or order. The foreign (other state) credit union shall not conduct business at the new location of the California branch office or California facility without a license issued by the commissioner for the new location.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 5 - Relocation or Discontinuance of California Branch Office or California Facility › Section 16076.

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 the commissioner which contains the information specified by the commissioner by regulation or order.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 5 - Relocation or Discontinuance of California Branch Office or California Facility › Section 16077.

16077. Promptly after a foreign (other state) credit union relocates or discontinues a California branch office or California facility pursuant to this article, the foreign (other state) credit union shall surrender to the commissioner the license which authorized the foreign (other state) credit union to maintain the California branch office or California facility at the old or discontinued site.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 6 - Conduct of Credit Union Business › Section 16100.

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 authorized under the laws of its home state and the laws of this state that are applicable to credit unions.
(b) Nothing in subdivision (a) authorizes a foreign (other state) credit union to engage in any activity at a California branch office or California facility that it is not authorized to transact or is prohibited from transacting under the law of its home state or that credit unions organized under the laws of this state are not authorized to transact or are prohibited from transacting.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 6 - Conduct of Credit Union Business › Section 16101.

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 with respect to its business in this state as if the foreign (other state) credit union were a credit union organized under the laws of this state:
(1) Section 14203.
(2) Section 14204.
(3) Section 14208.
(4) Section 14210.
(5) Section 14256.
(6) Section 14409.
(7) Section 14409.2.
(8) Section 14602.
(9) Section 14652.5.
(10) Section 14655, to the extent promissory notes of the type described in this section are carried on the books of a branch office of a foreign (other state) credit union.
(11) Section 14656, to the extent promissory notes of the type described in this section are carried on the books of a branch office of a foreign (other state) credit union.
(12) Article 8 (commencing with Section 14750) of Chapter 4.
(13) Article 1 (commencing with Section 14850) of Chapter 6.
(14) Article 1 (commencing with Section 14950) of Chapter 7.
(15) Article 2 (commencing with Section 15001) of Chapter 7.
(16) Article 3 (commencing with Section 15050) of Chapter 7, to the extent loans of the type described in that article are carried on the books of a branch office of a foreign (other state) credit union.
(17) Section 15102.
(b) The laws of this state that are applicable to the activities, operations, and transactions of credit unions organized under the laws of this state, other than the laws in this division, similarly shall apply to the activities, operations, and transactions of a foreign (other state) credit union in this state. Those laws include, but are not limited to, consumer protection laws and laws relating to creditor rights and remedies, mortgages and deeds of trust, bank deposits and collections, and negotiable instruments.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 6 - Conduct of Credit Union Business › Section 16102.

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 restrictions of Section 1 of Article XV of the California Constitution relating to rates of interest upon the loan or forbearance of any money, goods, or things in action or on accounts after demand.
(b) This section does not exempt a foreign (other state) credit union or any subsidiary from complying with all other laws and regulations governing the business in which the foreign (other state) credit union or subsidiary is engaged.
(c) This section creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.
(d) This section does not authorize a foreign (other state) credit union or any subsidiary to charge an interest rate on a loan or forbearance in excess of any limitation that exists under the laws of its home state.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 6 - Conduct of Credit Union Business › Section 16103.

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 separate and apart from the assets of its business outside this state, if required by written order of the commissioner.
(b) Persons who are creditors of a foreign (other state) credit union as a result of the business of an office of the foreign (other state) credit union in this state shall be entitled to priority over other creditors with respect to the assets of the business in this state of the foreign (other state) credit union.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 7 - Examination, Reports, and Records › Section 16150.

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 and of any subsidiary thereof.
(b) The commissioner and any person designated by him or her shall have free access to any office of the foreign (other state) credit union and to its books, accounts, and other records.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 7 - Examination, Reports, and Records › Section 16151.

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 of any office, within or outside of this state, of a foreign (other state) credit union that maintains an office in this state.
(Amended by Stats. 2003, Ch. 404, Sec. 18. Effective January 1, 2004.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 7 - Examination, Reports, and Records › Section 16152.

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 commissioner a copy of any audit report obtained by, and of any examination report prepared for or of, the foreign (other state) credit union.
(b) Each foreign (other state) credit union shall file with the commissioner a copy of any response made by the foreign (other state) credit union to an audit or examination report referred to in subdivision (a) within 10 days after making the response or within any extended time that the commissioner may specify.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 7 - Examination, Reports, and Records › Section 16153.

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 in the form, contain the information, and be filed on the date, as may be prescribed by the commissioner.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 7 - Examination, Reports, and Records › Section 16154.

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 preserve, at the branch office, facility, or at any other place that the commissioner may by regulation or order approve, the books, accounts, and other records relating to the business of the California branch office or California facility, in the form, in the manner, and for the time that the commissioner may by regulation or order require.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16200.

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, or to collect any penalty or other liability imposed under this division or any regulation or order issued under this chapter. Upon a proper showing, a permanent or preliminary injunction, restraining order, or writ of mandate shall be granted, and a monitor, receiver, conservator, or other designated fiduciary or officer of the court may be granted as appropriate.
(b) A receiver, monitor, conservator, or other designated fiduciary officer of the court appointed by the court pursuant to this section may, with the approval of the court, exercise all of the powers of the defendant’s officers, directors, partners, trustees, or persons who exercise similar powers and perform similar duties, including the filing of a petition for bankruptcy. No action at law or in equity may be maintained by any party against the commissioner, or a receiver, monitor, conservator, or other designated fiduciary or officer of the court by reason of their exercising these powers or performing these duties pursuant to the order of, or with the approval of, the court.
(c) If the commissioner finds that it is in the public interest, the commissioner may include in a claim for restitution, disgorgement, or damages on behalf of the person injured by the act or practice constituting the subject matter of the action, and the court shall have jurisdiction to award ancillary relief.
(d) The provisions of this section that authorize the commissioner to bring actions and seek relief are not intended to, and do not, affect any right that any other person may have to bring the same or similar actions or to seek the same or similar relief.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16200.5.

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, the commissioner may order the person to cease and desist from the violation unless and until the person is issued a license.
(b) (1) Within 30 days after an order is issued pursuant to subdivision (a), the person to whom the order is directed may file with the commissioner an application for a hearing on the order. If the commissioner fails to commence a hearing within 15 business days after the application is filed with him or her (or within such longer period to which the person consents), the order shall be deemed rescinded. At the hearing the commissioner shall affirm, modify, or rescind the order.
(2) The right of any person, to whom an order is issued under subdivision (a), to petition for judicial review of the order shall not be affected by the failure of the person to apply to the commissioner for a hearing on the order pursuant to paragraph (1).
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16201.

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 chapter, the commissioner may order the person to pay to the commissioner a civil penalty imposed pursuant to Section 216.3.
(Amended by Stats. 2003, Ch. 445, Sec. 16. Effective January 1, 2004.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16202.

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 office in this state, the commissioner may issue an order suspending or revoking the license of the foreign (other state) credit union:
(a) That the foreign (other state) credit union has violated a provision of this division or of any regulation or order issued under this division or a provision of any other applicable law, regulation, or order.
(b) That the foreign (other state) credit union is transacting the business in this state or elsewhere in an unsafe or unsound manner.
(c) That the foreign (other state) credit union is in unsafe or unsound condition.
(d) That the foreign (other state) credit union has ceased to operate its office.
(e) That the foreign (other state) credit union is insolvent in that it has ceased to pay its debts in the ordinary course of business, it cannot pay its debts as they become due, or its liabilities, including share accounts and certificates for funds, exceed its assets.
(f) That the foreign (other state) credit union has suspended payment of its obligations, has made an assignment for the benefit of its creditors, or has admitted in writing its inability to pay its debts as they become due.
(g) That the foreign (other state) credit union is the subject of an order for relief in bankruptcy or has sought other relief under any bankruptcy, reorganization, insolvency, or moratorium law, or that any person has applied for such relief under any such law against the foreign (other state) credit union, and the foreign (other state) credit union has by any affirmative act approved of or consented to the action or the relief has been granted.
(h) That a receiver, liquidator, or conservator has been appointed for the foreign (other state) credit union or that any proceeding for an appointment or any similar proceeding has been initiated in the home state of the foreign (other state) credit union.
(i) That the existence of the foreign (other state) credit union or the authority of the foreign (other state) credit union to transact banking business under the laws of the home state of the foreign (other state) credit union has been suspended or terminated.
(j) That any fact or condition exists that, if it had existed at the time when the foreign (other state) credit union applied for approval to transact business in this state, would have been grounds for denying the application.
(Amended by Stats. 2009, Ch. 500, Sec. 38. (AB 1059) Effective January 1, 2010.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16203.

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 licensed to maintain an office in this state and that it is necessary for the protection of the interests of creditors of the foreign (other state) credit union’s business in this state or, in any case, for the protection of the public interest that the commissioner immediately suspend or revoke the license of the foreign (other state) credit union, the commissioner may issue an order suspending or revoking the license of the foreign (other state) credit union.
(b) (1) Within 30 days after an order is issued pursuant to subdivision (a), the foreign (other state) credit union to which the order is issued may file with the commissioner an application for a hearing on the order. If the commissioner fails to commence the hearing within 15 business days after the application is filed with the commissioner (or within any longer period to which the foreign (other state) credit union consents), the order shall be deemed rescinded. Within 30 days after the hearing, the commissioner shall affirm, modify, or rescind the order; otherwise, the order shall be deemed rescinded.
(2) The right of any foreign (other state) credit union to which an order is issued under subdivision (a) to petition for judicial review of the order shall not be affected by the failure of the foreign (other state) credit union to apply to the commissioner for a hearing on the order pursuant to paragraph (1).
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16204.

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.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 11 - Foreign (Other State) Credit Unions › ARTICLE 9 - Enforcement › Section 16205.

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 order. The commissioner shall not grant the application unless the commissioner finds that it is in the public interest to do so and that it is reasonable to believe that the foreign (other state) credit union will, if and when it is again authorized to maintain an office, comply with all applicable provisions of this division and of any regulation or order issued under this division.
(b) The right of any foreign (other state) credit union to which an order is issued under Section 16202 or 16203 to petition for judicial review of the order shall not be affected by the failure of the foreign (other state) credit union to apply to the commissioner pursuant to subdivision (a) to modify or rescind the order.
(Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16500.

16500. This chapter may be cited as the “Foreign (Other Nation) Credit Union Law.”
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16501.

16501. In this chapter:
(a) “Agency,” when used with respect to a foreign (other nation) credit union, means an office in this state at which the foreign (other nation) credit union transacts credit union business, other than branch business.
(b) “Branch business” means the business of issuing shares or certificates, receiving deposits, paying checks, making loans, and other activities that the commissioner may specify by order or regulation.
(c) “Branch office,” when used with respect to a foreign (other nation) credit union, means an office in this state at which the foreign (other nation) credit union engages in branch business.
(d) “Business in this state,” when used with respect to a foreign (other nation) credit union that is licensed to maintain one or more offices, includes the aggregate business of all of the offices.
(e) “Foreign nation” means any nation other than the United States, including, without limitation, any subdivision, territory, trust territory, dependency, colony, or possession of any nation other than the United States.
(f) “Foreign (other nation) credit union” means any credit union or similar institution that is organized under the laws of a foreign nation.
(g) “Foreign (other state) state credit union” means a credit union that is organized under the laws of a state of the United States other than California.
(h) “Home country,” when used with respect to a foreign (other nation) credit union, means the foreign nation under whose laws the foreign (other nation) credit union is organized.
(i) “Home country regulator,” when used with respect to a foreign (other nation) credit union, means the regulatory agency in the home country of the foreign (other nation) credit union that has primary regulatory authority over the foreign (other nation) credit union.
(j) (1) “License” means a license issued under this chapter, authorizing a foreign (other nation) credit union to maintain an office.
(2) To be “licensed” means to be issued or to hold a license.
(3) To be “licensed to transact business in this state,” when used with respect to a foreign (other nation) credit union, means that the foreign (other nation) credit union is licensed to maintain an agency or branch office.
(k) “Office,” when used with respect to a foreign (other nation) credit union, means a branch office, an agency, or a representative office maintained by the foreign (other nation) credit union.
(l) “Representative office,” when used with respect to a foreign (other nation) credit union, means an office in this state at which the foreign (other nation) credit union engages in representational functions but at which it does not transact business.
(m) “State of the United States” means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
(Amended by Stats. 2001, Ch. 159, Sec. 94. Effective January 1, 2002.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16502.

16502. Nothing in this chapter shall apply to a foreign (other state) state credit union or be deemed to authorize a foreign (other state) state credit union to transact business in this state.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16503.

16503. No foreign (other nation) credit union may establish a branch office unless its deposit or share accounts are insured by the National Credit Union Administration or other insurer that is not unsatisfactory to the commissioner.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16504.

16504. 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 the information, shall be signed in the manner, and shall (if the commissioner requires by regulation or order) be verified in the manner that the commissioner may by regulation or order require.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16505.

16505. Fees shall be paid to and collected by the commissioner as follows:
(a) The fee for filing with the commissioner an application by a foreign (other nation) credit union that is not licensed to transact business in this state for approval to establish a branch office shall be one thousand dollars ($1,000).
(b) The fee for filing with the commissioner an application by a foreign (other nation) credit union that is not licensed to transact business in this state for approval to establish an agency shall be five hundred dollars ($500).
(c) The fee for filing with the commissioner an application by a foreign (other nation) credit union that is licensed to transact business in this state for approval to establish a branch office shall be five hundred dollars ($500).
(d) The fee for filing with the commissioner an application by a foreign (other nation) credit union that is licensed to transact business in this state for approval to establish an agency shall be two hundred fifty dollars ($250).
(e) The fee for filing with the commissioner an application by a foreign (other nation) credit union for approval to establish a representative office shall be two hundred fifty dollars ($250).
(f) The fee for filing with the commissioner an application by a foreign (other nation) credit union for approval to relocate or to close an office shall be one hundred fifty dollars ($150).
(g) The fee for issuing a license shall be twenty-five dollars ($25).
(h) Each foreign (other nation) credit union that on June 1 of any year maintains one or more offices shall pay, on or before the following July 1, a fee of two hundred fifty dollars ($250) per branch office, one hundred dollars ($100) per agency, and fifty dollars ($50) per representative office.
(i) If the commissioner makes an examination in connection with a pending application, the foreign (other nation) credit union making the application shall pay a fee for the examination at the rate of seventy-five dollars ($75) per hour for each examiner engaged in the examination plus, if in the opinion of the commissioner it is necessary for any examiner engaged in the examination to travel outside this state, the travel expenses of the examiner.
(j) If the commissioner makes an examination of a foreign (other nation) credit union that is licensed to maintain an office, the foreign (other nation) credit union shall pay a fee for the examination at the rate of seventy-five dollars ($75) per hour for each examiner engaged in the examination plus, if in the opinion of the commissioner it is necessary for any examiner engaged in the examination to travel outside this state, the travel expenses of the examiner.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16506.

16506. (a) (1) No foreign (other nation) credit union shall be issued a license to maintain an office unless it shall have first filed with the commissioner, in the form that the commissioner may by regulation or order require, an appointment irrevocably appointing the commissioner and the commissioner’s successor from time to time in office to be the foreign (other nation) credit union’s attorney to receive service of any lawful process in any noncriminal judicial or administrative proceeding against the foreign (other nation) credit union or any of its successors that arises out of the activities in this state after the appointment has been filed, with the same force and validity as if served personally on the foreign (other nation) credit union or its successor, as the case may be.
(2) Any foreign (other nation) credit union that maintains an office in this state and that has not filed with the commissioner an appointment pursuant to paragraph (1) shall be deemed by the maintenance of that office to have appointed the commissioner as its attorney to receive service of any lawful process in any noncriminal judicial or administrative proceeding against the foreign (other nation) credit union or any of its successors that arises out of the activities in this state with the same force and validity as if served personally on the foreign (other nation) credit union or its successor, as the case may be.
(b) Service may be made on a foreign (other nation) credit union that has appointed or is deemed to have appointed the commissioner as its attorney for service of process by leaving a copy of the process at any office of the commissioner. However, the service is not effective unless (1) the party making the service, who may be the commissioner, forthwith sends notice of the service and a copy of the process by registered or certified mail to the foreign (other nation) credit union served at its last address on file with the commissioner at any of its offices in this state or at its head office, and (2) an affidavit of compliance with this subdivision by the party making service is filed in the case on or before the return date, if any, or within any further time that the court, in the case of a judicial proceeding, or the administrative agency, in the case of an administrative proceeding, allows.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16507.

16507. In administering the provisions of this chapter, the commissioner may share information with federal and home country regulators of foreign (other nation) credit unions.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16509.

16509. A foreign (other nation) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to the public which states the name of the foreign (other nation) credit union, the type of office it is, and the foreign country under whose laws it was organized or chartered.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16510.

16510. Whenever a foreign (other nation) credit union is licensed to establish more than one office, it shall designate one of its offices as its primary office.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16511.

16511. Each foreign (other nation) credit union that is licensed to establish an office shall conduct all of the business of the office in a single building or in adjoining buildings. However, with the approval of the commissioner, the foreign (other nation) credit union may conduct part of the business of the office elsewhere in the same vicinity.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 1 - General Provisions › Section 16512.

16512. Whenever any provision of this chapter or of any regulation or order issued under this chapter that is applicable to or with respect to a foreign (other nation) credit union that maintains a branch office or facility is inconsistent with any provision of any other chapter of this division, the former provision applies, and the latter provision does not apply.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16525.

16525. (a) No foreign (other nation) credit union shall establish or maintain an office in this state at which it engages in representational functions unless it is licensed to maintain a representative office, agency, or branch office at that place.
(b) (1) No person shall establish or maintain an office in this state as representative of a foreign (other nation) credit union unless the foreign (other nation) credit union is licensed to maintain the office as a representative office.
(2) For purposes of this chapter, if any person establishes or maintains an office in this state as representative of a foreign (other nation) credit union, the foreign (other nation) credit union shall be deemed to establish and maintain the office as a representative office.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16526.

16526. (a) No foreign (other nation) credit union shall establish or maintain a representative office unless the commissioner shall have first approved the establishment of the office and issued a license authorizing the foreign (other nation) credit union to maintain the office.
(b) If the commissioner finds the following with respect to an application by a foreign (other nation) credit union for approval to establish a representative office, the commissioner shall approve the application:
(1) That the foreign (other nation) credit union, the directors and executive officers of the foreign (other nation) credit union, and the proposed management of the office are each of good character and sound financial standing.
(2) That the financial history and condition of the foreign (other nation) credit union are satisfactory.
(3) That the management of the foreign (other nation) credit union and the proposed management of the office are adequate.
(4) That it is reasonable to believe that, if licensed to maintain the office, the foreign (other nation) credit union will operate the office in compliance with all applicable laws, regulations, and orders.
If the commissioner finds otherwise, the commissioner shall deny the application.
(c) Whenever an application by a foreign (other nation) credit union for approval to establish a representative office has been approved and all conditions precedent to the issuance of a license authorizing the foreign (other nation) credit union to maintain the office have been fulfilled, the commissioner shall issue the license.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16527.

16527. (a) No foreign (other nation) credit union that is licensed to maintain a representative office shall relocate the office unless the commissioner shall have first approved the relocation and issued a license authorizing the credit union to maintain the office at the new site.
(b) (1) In case the new site of a representative office is in the same vicinity as the old site, the commissioner shall approve an application by a foreign (other nation) credit union for approval to relocate the representative office if the commissioner finds that the relocation of the office will not be substantially detrimental to the public convenience and advantage.
(2) In case the new site of a representative office is not in the same vicinity as the old site, the commissioner shall approve an application by a foreign (other nation) credit union for approval to relocate the representative office if the commissioner finds both of the following:
(i) The relocation of the office from the old site will not be substantially detrimental to the public convenience and advantage in the area that is primarily served by the office at the old site.
(ii) The relocation of the office to the new site will promote the public convenience and advantage.
If the commissioner does not make the findings required under either paragraph (1) or (2), the commissioner shall deny the application.
(c) Whenever an application by a foreign (other nation) credit union for approval to relocate a representative office has been approved and all conditions precedent to the issuance of a license authorizing the foreign (other nation) credit union to maintain the office at the new site have been fulfilled, the commissioner shall issue the license.
(d) Promptly after a foreign (other nation) credit union that is licensed to maintain a representative office relocates the office, the foreign (other nation) credit union shall surrender to the commissioner the license that authorized it to maintain the office at the old site.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16528.

16528. A foreign (other nation) credit union that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage in representational functions at the office but shall not solicit or accept share accounts or deposits or otherwise transact business at the office.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16529.

16529. (a) (1) No foreign (other nation) credit union that is licensed to maintain a representative office shall close the office unless the commissioner shall have first approved the closing.
(2) Paragraph (1) shall not be deemed to prohibit a foreign (other nation) credit union that is licensed to maintain a representative office from closing the office in accordance with Article 8 (commencing with Section 16800).
(b) If the commissioner finds, with respect to an application by a foreign (other nation) credit union for approval to close a representative office, that the closing of the office will not be substantially detrimental to the public convenience and advantage, the commissioner shall approve the application. If the commissioner finds otherwise, the commissioner shall deny the application.
(c) Whenever an application by a foreign (other nation) credit union for approval to close a representative office has been approved and all conditions precedent to the closing have been fulfilled, the foreign (other nation) credit union may close the office and shall promptly thereafter surrender to the commissioner the license that authorized it to maintain the office.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 2 - Representative Offices › Section 16530.

16530. 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.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 3 - Branch Offices and Agencies › Section 16550.

16550. (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.
(2) The advertising or solicitation of shares or deposits in this state by a foreign (other nation) credit union made through the media of the mail, radio, television, magazines, newspapers, the Internet, or similar media, provided that shares or deposits are not accepted or received in this state.
(3) The acceptance of loan applications through agents in this state, provided the loan applications are approved or rejected, and the loans are funded, outside of this state.
(c) For the purposes of subdivision (a), no foreign (other nation) credit union shall be deemed to be transacting business in this state merely because a majority-owned subsidiary transacts business in this state.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 3 - Branch Offices and Agencies › Section 16551.

16551. No foreign (other nation) credit union shall be licensed to maintain a branch office or agency unless it is qualified to transact intrastate business in this state under Chapter 21 (commencing with Section 2100) of Division 1 of Title 1 of the Corporations Code, except as provided in Section 8910 of the Corporations Code.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 3 - Branch Offices and Agencies › Section 16552.

16552. (a) No foreign (other nation) credit union shall establish or maintain a branch office or agency unless the commissioner shall have first approved its establishment and issued a license authorizing the foreign (other nation) credit union to maintain the branch office or agency.
(b) If the commissioner finds all of the following with respect to an application by a foreign (other nation) credit union for approval to establish a branch office or agency, the commissioner shall approve the application:
(1) That the foreign (other nation) credit union, the directors and officers of the foreign (other nation) credit union, and the proposed management of the office are each of good character and sound financial standing.
(2) That the financial history and condition of the foreign (other nation) credit union are satisfactory.
(3) That the management of the foreign (other nation) credit union and the proposed management of the office are adequate.
(4) That it is reasonable to believe that, if licensed to maintain the office, the foreign (other nation) credit union will operate the office in a safe and sound manner and in compliance with all applicable laws, regulations, and orders.
(5) That the foreign (other nation) credit union’s plan to establish and to maintain the office affords reasonable promise of successful operation.
(6) That the foreign (other nation) credit union’s establishment and maintenance of the office will promote the public convenience and advantage, and is necessary or convenient to meet the needs of the foreign (other nation) credit union’s members.
(7) Not more than 50 percent of the members of the foreign (other nation) credit union are or will be residents of this state.
If the commissioner finds otherwise, the commissioner shall deny the application.
(c) Whenever an application by a foreign (other nation) credit union for approval to establish a branch office or agency has been approved and all conditions precedent to the issuance of a license authorizing the foreign (other nation) credit union to maintain the branch office or agency have been fulfilled, the commissioner shall issue the license.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)
2023 California Code › Financial Code - FIN › DIVISION 5 - CREDIT UNIONS › CHAPTER 12 - Foreign (Other Nation) Credit Unions › ARTICLE 3 - Branch Offices and Agencies › Section 16553.

16553. The approval of an application for approval to establish a branch office or agency 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 branch office or agency.
(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)