Section 16024 Of Article 2. Establishment Of A California Branch Office Or California Facility From California Financial Code >> Division 5. >> Chapter 11. >> Article 2.
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.