Financial Code section 16528

A foreign (other nation) credit union that is licensed to maintain a representative office may, subject to any regulations that the commissioner may prescribe, engage in representational functions at the office but shall not solicit or accept share accounts or deposits or otherwise transact business at the office.

Source: Section 16528, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=16528.­ (updated Jan. 1, 2001; accessed Jun. 9, 2025).

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Verified:
Jun. 9, 2025

§ 16528’s source at ca​.gov