State Codes and Statutes

Statutes > California > Fin > 16000-16013

FINANCIAL CODE
SECTION 16000-16013



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 checks, making loans and other obligations, and
other activities that the commissioner may specify by order or
regulation.
   (b) "California branch office," when used with respect to a
foreign (other state) credit union, means an office in this state at
which the foreign (other state) credit union engages in branch
business.
   (c) (1) "California facility," when used with respect to a foreign
(other state) credit union, means an office in this state at which
the foreign (other state) credit union engages in business other than
branch business.
   (2) In the case of an employer-supported foreign (other state)
credit union, a "California facility" does not include a table,
counter, or booth on the premises of the employer's place of business
at which a volunteer of the foreign (other state) credit union
provides information or services to members but does not engage in
branch business.
   (d) "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.
   (e) "Foreign (other nation) credit union" means any credit union
or similar institution that is organized under the laws of a foreign
nation.
   (f) "Foreign (other state) credit union" means a credit union that
is organized under the laws of any state of the United States other
than this state.
   (g) "Home state," when used with respect to a foreign (other
state) credit union, means the state of the United States under which
the foreign (other state) credit union is organized.
   (h) "Home state regulator," when used with respect to a foreign
(other state) credit union, means the state regulatory agency in the
home state of the foreign (other state) credit union which has
primary regulatory authority over the foreign (other state) credit
union.
   (i) "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.


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 business 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.



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 National Credit Union
Administration or other insurer that is not unsatisfactory to the
commissioner.



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 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.



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 to transact business in this state for
approval to establish a branch office is one thousand dollars
($1,000).
   (b) The fee for an application by a foreign (other state) credit
union that is licensed to transact business in this state for
approval to establish a California branch office is five hundred
dollars ($500).
   (c) The fee for issuing a license to establish and maintain a
California branch office or California facility is twenty-five
dollars ($25).
   (d) Each foreign (other state) credit union that on June 1 of any
year maintains one or more California branch offices or California
facilities shall pay, on or before the following July 1, a fee of two
hundred fifty dollars ($250) per California branch office and one
hundred dollars ($100) per California facility. However, the maximum
fee shall be not more than one thousand dollars ($1,000).
   (e) If the commissioner makes an examination in connection with a
pending application, the foreign (other state) 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.
   (f) If the commissioner makes an examination of a foreign (other
state) credit union that maintains a California branch office or
California facility, the foreign (other state) 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.


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 state) credit union shall file 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 state) credit union's attorney to receive service
of any lawful process in any noncriminal judicial or administrative
proceeding against the foreign (other state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility after the appointment has been
filed, with the same force and validity as if served personally on
the foreign (other state) credit union or its successors, as the case
may be.
   (b) Any foreign (other state) credit union that maintains a
California branch office or California facility that has not filed
with the commissioner an appointment pursuant to subdivision (a) is
deemed by the maintenance of the branch office or facility 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 state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility, with the same force and
validity as if served personally on the credit union or its
successor, as the case may be.
   (c) Service may be made on a foreign (other state) 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 state)
credit union served at the last address on file with the
commissioner for any of the foreign (other state) credit union's
offices in this state or at its head office, and (2) an affidavit of
compliance with this subdivision by the party making the 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.



16008.  In administering the provisions of this chapter, the
commissioner may share information with federal and home state
regulators of foreign (other state) credit unions.



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 states the name of the foreign (other
state) credit union, the type of office it is, and the state of the
United States under whose laws it was organized or chartered.




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 adjoining buildings. However, with prior
to notice to the commissioner, the foreign (other state) credit union
may conduct part of the business of the office elsewhere in the same
vicinity.



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 state) credit union that maintains a
California branch office or California facility is inconsistent with
any provision of any other chapter of this division, the provision of
the other chapter applies, and the latter provision does not apply.



State Codes and Statutes

Statutes > California > Fin > 16000-16013

FINANCIAL CODE
SECTION 16000-16013



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 checks, making loans and other obligations, and
other activities that the commissioner may specify by order or
regulation.
   (b) "California branch office," when used with respect to a
foreign (other state) credit union, means an office in this state at
which the foreign (other state) credit union engages in branch
business.
   (c) (1) "California facility," when used with respect to a foreign
(other state) credit union, means an office in this state at which
the foreign (other state) credit union engages in business other than
branch business.
   (2) In the case of an employer-supported foreign (other state)
credit union, a "California facility" does not include a table,
counter, or booth on the premises of the employer's place of business
at which a volunteer of the foreign (other state) credit union
provides information or services to members but does not engage in
branch business.
   (d) "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.
   (e) "Foreign (other nation) credit union" means any credit union
or similar institution that is organized under the laws of a foreign
nation.
   (f) "Foreign (other state) credit union" means a credit union that
is organized under the laws of any state of the United States other
than this state.
   (g) "Home state," when used with respect to a foreign (other
state) credit union, means the state of the United States under which
the foreign (other state) credit union is organized.
   (h) "Home state regulator," when used with respect to a foreign
(other state) credit union, means the state regulatory agency in the
home state of the foreign (other state) credit union which has
primary regulatory authority over the foreign (other state) credit
union.
   (i) "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.


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 business 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.



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 National Credit Union
Administration or other insurer that is not unsatisfactory to the
commissioner.



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 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.



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 to transact business in this state for
approval to establish a branch office is one thousand dollars
($1,000).
   (b) The fee for an application by a foreign (other state) credit
union that is licensed to transact business in this state for
approval to establish a California branch office is five hundred
dollars ($500).
   (c) The fee for issuing a license to establish and maintain a
California branch office or California facility is twenty-five
dollars ($25).
   (d) Each foreign (other state) credit union that on June 1 of any
year maintains one or more California branch offices or California
facilities shall pay, on or before the following July 1, a fee of two
hundred fifty dollars ($250) per California branch office and one
hundred dollars ($100) per California facility. However, the maximum
fee shall be not more than one thousand dollars ($1,000).
   (e) If the commissioner makes an examination in connection with a
pending application, the foreign (other state) 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.
   (f) If the commissioner makes an examination of a foreign (other
state) credit union that maintains a California branch office or
California facility, the foreign (other state) 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.


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 state) credit union shall file 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 state) credit union's attorney to receive service
of any lawful process in any noncriminal judicial or administrative
proceeding against the foreign (other state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility after the appointment has been
filed, with the same force and validity as if served personally on
the foreign (other state) credit union or its successors, as the case
may be.
   (b) Any foreign (other state) credit union that maintains a
California branch office or California facility that has not filed
with the commissioner an appointment pursuant to subdivision (a) is
deemed by the maintenance of the branch office or facility 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 state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility, with the same force and
validity as if served personally on the credit union or its
successor, as the case may be.
   (c) Service may be made on a foreign (other state) 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 state)
credit union served at the last address on file with the
commissioner for any of the foreign (other state) credit union's
offices in this state or at its head office, and (2) an affidavit of
compliance with this subdivision by the party making the 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.



16008.  In administering the provisions of this chapter, the
commissioner may share information with federal and home state
regulators of foreign (other state) credit unions.



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 states the name of the foreign (other
state) credit union, the type of office it is, and the state of the
United States under whose laws it was organized or chartered.




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 adjoining buildings. However, with prior
to notice to the commissioner, the foreign (other state) credit union
may conduct part of the business of the office elsewhere in the same
vicinity.



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 state) credit union that maintains a
California branch office or California facility is inconsistent with
any provision of any other chapter of this division, the provision of
the other chapter applies, and the latter provision does not apply.




State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 16000-16013

FINANCIAL CODE
SECTION 16000-16013



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 checks, making loans and other obligations, and
other activities that the commissioner may specify by order or
regulation.
   (b) "California branch office," when used with respect to a
foreign (other state) credit union, means an office in this state at
which the foreign (other state) credit union engages in branch
business.
   (c) (1) "California facility," when used with respect to a foreign
(other state) credit union, means an office in this state at which
the foreign (other state) credit union engages in business other than
branch business.
   (2) In the case of an employer-supported foreign (other state)
credit union, a "California facility" does not include a table,
counter, or booth on the premises of the employer's place of business
at which a volunteer of the foreign (other state) credit union
provides information or services to members but does not engage in
branch business.
   (d) "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.
   (e) "Foreign (other nation) credit union" means any credit union
or similar institution that is organized under the laws of a foreign
nation.
   (f) "Foreign (other state) credit union" means a credit union that
is organized under the laws of any state of the United States other
than this state.
   (g) "Home state," when used with respect to a foreign (other
state) credit union, means the state of the United States under which
the foreign (other state) credit union is organized.
   (h) "Home state regulator," when used with respect to a foreign
(other state) credit union, means the state regulatory agency in the
home state of the foreign (other state) credit union which has
primary regulatory authority over the foreign (other state) credit
union.
   (i) "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.


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 business 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.



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 National Credit Union
Administration or other insurer that is not unsatisfactory to the
commissioner.



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 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.



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 to transact business in this state for
approval to establish a branch office is one thousand dollars
($1,000).
   (b) The fee for an application by a foreign (other state) credit
union that is licensed to transact business in this state for
approval to establish a California branch office is five hundred
dollars ($500).
   (c) The fee for issuing a license to establish and maintain a
California branch office or California facility is twenty-five
dollars ($25).
   (d) Each foreign (other state) credit union that on June 1 of any
year maintains one or more California branch offices or California
facilities shall pay, on or before the following July 1, a fee of two
hundred fifty dollars ($250) per California branch office and one
hundred dollars ($100) per California facility. However, the maximum
fee shall be not more than one thousand dollars ($1,000).
   (e) If the commissioner makes an examination in connection with a
pending application, the foreign (other state) 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.
   (f) If the commissioner makes an examination of a foreign (other
state) credit union that maintains a California branch office or
California facility, the foreign (other state) 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.


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 state) credit union shall file 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 state) credit union's attorney to receive service
of any lawful process in any noncriminal judicial or administrative
proceeding against the foreign (other state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility after the appointment has been
filed, with the same force and validity as if served personally on
the foreign (other state) credit union or its successors, as the case
may be.
   (b) Any foreign (other state) credit union that maintains a
California branch office or California facility that has not filed
with the commissioner an appointment pursuant to subdivision (a) is
deemed by the maintenance of the branch office or facility 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 state) credit union or any of
its successors that arises out of the activities of the California
branch office or California facility, with the same force and
validity as if served personally on the credit union or its
successor, as the case may be.
   (c) Service may be made on a foreign (other state) 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 state)
credit union served at the last address on file with the
commissioner for any of the foreign (other state) credit union's
offices in this state or at its head office, and (2) an affidavit of
compliance with this subdivision by the party making the 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.



16008.  In administering the provisions of this chapter, the
commissioner may share information with federal and home state
regulators of foreign (other state) credit unions.



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 states the name of the foreign (other
state) credit union, the type of office it is, and the state of the
United States under whose laws it was organized or chartered.




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 adjoining buildings. However, with prior
to notice to the commissioner, the foreign (other state) credit union
may conduct part of the business of the office elsewhere in the same
vicinity.



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 state) credit union that maintains a
California branch office or California facility is inconsistent with
any provision of any other chapter of this division, the provision of
the other chapter applies, and the latter provision does not apply.



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