Section 16103 Of Article 6. Conduct Of Credit Union Business From California Financial Code >> Division 5. >> Chapter 11. >> Article 6.
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.