Fin. Code, § 16102 · Article 6. Conduct of Credit Union Business
Fin. Code, § 16102
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Any foreign (other state) credit union that is authorized to and does maintain a California branch office or California facility is exempted from the restrictions of Section 1 of Article XV of the California Constitution relating to rates of interest upon the loan or forbearance of any money, goods, or things in action or on accounts after demand.
(b) This section does not exempt a foreign (other state) credit union or any subsidiary from complying with all other laws and regulations governing the business in which the foreign (other state) credit union or subsidiary is engaged.
(c) This section creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution.
(d) This section does not authorize a foreign (other state) credit union or any subsidiary to charge an interest rate on a loan or forbearance in excess of any limitation that exists under the laws of its home state.
Notes and commentary — not statutory text
History
Added by Stats. 2000, Ch. 612, Sec. 3. Effective January 1, 2001.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=16102.
- Text hash
- sha256 175408ecb5c7c5972e671d36ded6e1e6d1c293eaa1d9e31dbc583aab25303d54
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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California Constitution
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