LawWiki
HomeCodesSearchGlossaryAPIAbout
LawWiki

Plain English summaries of California law with zero-hallucination AI. Every summary is verified against official source text.

Product

  • Search
  • Codes
  • About

Legal

  • Privacy Policy
  • Terms of Service
  • Disclaimer

© 2026 LawWiki. All rights reserved.

HomeFinancial CodeDiv. 5Ch. 11Art. 6§ 16101 Foreign Credit Union Rules

§ 16101 Foreign Credit Union Rules

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 16101 Foreign Credit Union Rules

If a credit union from another state opens a branch or other facility in California, it has to follow the same California credit‑union rules as a California‑based credit union.

Key Takeaways

  • •All California credit‑union statutes listed in subsection (a) apply to any out‑of‑state credit union with a California branch.
  • •The out‑of‑state credit union must also follow other California laws such as consumer‑protection, mortgage, and deposit rules.
  • •The rule treats the foreign credit union as if it were organized under California law for its California business.

Example

A credit union headquartered in Texas opens a branch in Los Angeles and starts offering home loans to California residents.

Because of this law, the Texas credit union must obey California’s loan rules (like the ones in Sections 14203, 14602, etc.) and also California consumer‑protection and mortgage laws, just as a California credit union would.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 16101 Foreign Credit Union Rules

(a) The following provisions of this division apply to a foreign (other state) credit union that maintains a California branch office or California facility with respect to its business in this state as if the foreign (other state) credit union were a credit union organized under the laws of this state: (1) Section 14203. (2) Section 14204. (3) Section 14208. (4) Section 14210. (5) Section 14256. (6) Section 14409. (7) Section 14409.2. (8) Section 14602. (9) Section 14652.5. (10) Section 14655, to the extent promissory notes of the type described in this section are carried on the books of a branch office of a foreign (other state) credit union. (11) Section 14656, to the extent promissory notes of the type described in this section are carried on the books of a branch office of a foreign (other state) credit union. (12) Article 8 (commencing with Section 14750) of Chapter 4. (13) Article 1 (commencing with Section 14850) of Chapter 6. (14) Article 1 (commencing with Section 14950) of Chapter 7. (15) Article 2 (commencing with Section 15001) of Chapter 7. (16) Article 3 (commencing with Section 15050) of Chapter 7, to the extent loans of the type described in that article are carried on the books of a branch office of a foreign (other state) credit union. (17) Section 15102. (b) The laws of this state that are applicable to the activities, operations, and transactions of credit unions organized under the laws of this state, other than the laws in this division, similarly shall apply to the activities, operations, and transactions of a foreign (other state) credit union in this state. Those laws include, but are not limited to, consumer protection laws and laws relating to creditor rights and remedies, mortgages and deeds of trust, bank deposits and collections, and negotiable instruments. (Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)

Last verified: January 11, 2026

Key Terms

foreign (other state) credit unionCalifornia branch officeCalifornia facilityconsumer protection lawscreditor rights and remedies

Related Statutes

  • § 16102 Foreign Credit Union Interest Exemption
  • § 16006 Foreign Credit Union Branch Fees
  • § 16007 Foreign Credit Union Service
  • § 16013 Foreign Credit Union Conflicts
  • § 16075 Foreign Credit Union Relocation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 16101.
View Official Source