§ 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.)