DIVISION 5. CREDIT UNIONS 14000-16906›CHAPTER 12. Foreign (Other Nation) Credit Unions 16500-16906›ARTICLE 6. Conduct of Credit Union Business 16600-16607

§ 16604

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

(a) A foreign (other nation) credit union which is licensed to establish and maintain an office or offices shall keep the assets of the offices separate and apart from the assets of its business outside this state.

(b) Persons who are creditors of a foreign (other nation) credit union as a result of the business of an office of the foreign (other nation) 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 nation) credit union.

(Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.)

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California Financial Code

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