§ 16001. — 16001. (Added by Stats. 2000, Ch. 612, Sec. 3.)

California § 16001.

• Jurisdiction: California
• Code FIN: Financial Code - FIN
• Div. 5.: DIVISION 5. CREDIT UNIONS
• Ch. 11.: CHAPTER 11. Foreign (Other State) Credit Unions
• Art. 1.: ARTICLE 1. General Provisions

Text

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.

Legislative History

Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.