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HomeFinancial CodeDiv. 5Ch. 11Art. 7§ 16154 Foreign Credit Union Records

§ 16154 Foreign Credit Union Records

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

§ 16154 Foreign Credit Union Records

If a credit union from another state has a branch or facility in California, it must keep all its books and records at that branch or another place the state commissioner approves, following the rules the commissioner sets.

Key Takeaways

  • •Foreign credit unions with a California branch must keep records for that branch.
  • •Records can be stored at the branch or another place the commissioner approves.
  • •The way the records are kept (format, method, and how long they are kept) is decided by the commissioner.

Example

A credit union based in Nevada opens a branch in San Diego.

The Nevada credit union has to keep all its account books, transaction logs, and other records at the San Diego branch (or another location the state commissioner allows) and must follow the form, method, and time limits the commissioner tells it to use.

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

Official Source
View on CA.gov

§ 16154 Foreign Credit Union Records

A foreign (other state) credit union that maintains a California branch office or California facility, if required by the commissioner, shall make, keep, and preserve, at the branch office, facility, or at any other place that the commissioner may by regulation or order approve, the books, accounts, and other records relating to the business of the California branch office or California facility, in the form, in the manner, and for the time that the commissioner may by regulation or order require. (Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.)

Last verified: January 11, 2026

Key Terms

foreign credit unionCalifornia branch officeCalifornia facilitybooks, accounts, and other recordscommissioner

Related Statutes

  • § 16076 Foreign Credit Union Closure Notice
  • § 16004 Foreign Credit Union Branches
  • § 16006 Foreign Credit Union Branch Fees
  • § 16007 Foreign Credit Union Service
  • § 16075 Foreign Credit Union Relocation

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 16154.
View Official Source