§ 16009 Foreign Credit Union Notice

This law says a credit union from another state that opens a branch must put up a clear sign that tells people its name, what kind of office it is, and which state it belongs to.

Key Takeaways

•Only foreign (out‑of‑state) credit unions that are licensed to have an office must post the notice.
•The notice must be in a place where the public can easily see it.
•The notice must list the credit union’s name, the type of office (e.g., branch, agency), and the state that gave it its charter.

Example

A credit union that is organized in Ohio gets permission to open a branch in California.

The Ohio credit union must hang a sign at the California branch that says something like, "Ohio Credit Union – Branch Office – Organized under Ohio law," so anyone walking by knows who runs the office and where it’s from.

A foreign (other state) credit union that is licensed to establish an office shall post at a conspicuous place at the office a notice to the public which states the name of the foreign (other state) credit union, the type of office it is, and the state of the United States under whose laws it was organized or chartered. (Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)

This law says a credit union from another state that opens a branch must put up a clear sign that tells people its name, what kind of office it is, and which state it belongs to.

Key Takeaways

•Only foreign (out‑of‑state) credit unions that are licensed to have an office must post the notice.
•The notice must be in a place where the public can easily see it.
•The notice must list the credit union’s name, the type of office (e.g., branch, agency), and the state that gave it its charter.

Example

A credit union that is organized in Ohio gets permission to open a branch in California.

Key Takeaways

Example

Key Terms

References

§ 16009 Foreign Credit Union Notice

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References