SECTIONS 16800 - California Statutes

State Codes and Statutes

Statutes > California > Fin > 16800

FINANCIAL CODE
SECTION 16800




16800.  (a) A foreign (other nation) credit union that is licensed
to maintain an office may voluntarily surrender the license for the
office by filing the license and a report with the commissioner.
However, a foreign (other nation) credit union that holds licenses to
maintain two or more offices may not voluntarily surrender less than
all of its licenses.
   (b) (1) Except as otherwise provided in paragraph (2), a voluntary
surrender of a license shall be effective on the 30th day after the
license and the report called for in subdivision (a) are filed with
the commissioner or on an earlier date as the commissioner may by
order specify.
   (2) If a proceeding to revoke or suspend a license is pending at
the time when the license and the report called for in subdivision
(a) are filed with the commissioner or if a proceeding to revoke or
suspend a license or to impose conditions upon the surrender of a
license is instituted before the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
the voluntary surrender of the license shall become effective at the
time and upon the conditions that the commissioner may by order
specify.

State Codes and Statutes

Statutes > California > Fin > 16800

FINANCIAL CODE
SECTION 16800




16800.  (a) A foreign (other nation) credit union that is licensed
to maintain an office may voluntarily surrender the license for the
office by filing the license and a report with the commissioner.
However, a foreign (other nation) credit union that holds licenses to
maintain two or more offices may not voluntarily surrender less than
all of its licenses.
   (b) (1) Except as otherwise provided in paragraph (2), a voluntary
surrender of a license shall be effective on the 30th day after the
license and the report called for in subdivision (a) are filed with
the commissioner or on an earlier date as the commissioner may by
order specify.
   (2) If a proceeding to revoke or suspend a license is pending at
the time when the license and the report called for in subdivision
(a) are filed with the commissioner or if a proceeding to revoke or
suspend a license or to impose conditions upon the surrender of a
license is instituted before the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
the voluntary surrender of the license shall become effective at the
time and upon the conditions that the commissioner may by order
specify.

State Codes and Statutes

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State Codes and Statutes

Statutes > California > Fin > 16800

FINANCIAL CODE
SECTION 16800




16800.  (a) A foreign (other nation) credit union that is licensed
to maintain an office may voluntarily surrender the license for the
office by filing the license and a report with the commissioner.
However, a foreign (other nation) credit union that holds licenses to
maintain two or more offices may not voluntarily surrender less than
all of its licenses.
   (b) (1) Except as otherwise provided in paragraph (2), a voluntary
surrender of a license shall be effective on the 30th day after the
license and the report called for in subdivision (a) are filed with
the commissioner or on an earlier date as the commissioner may by
order specify.
   (2) If a proceeding to revoke or suspend a license is pending at
the time when the license and the report called for in subdivision
(a) are filed with the commissioner or if a proceeding to revoke or
suspend a license or to impose conditions upon the surrender of a
license is instituted before the 30th day after the license and the
report called for in subdivision (a) are filed with the commissioner,
the voluntary surrender of the license shall become effective at the
time and upon the conditions that the commissioner may by order
specify.