California · Financial Code
FIN §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
What this law says, in plain English
A foreign credit union with a licensed representative office may perform representational functions, subject to commissioner regulations.
Read the full statutory text
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.
Verify at the official source: California legislative text
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