Fin. Code, § 16603 · Article 6. Conduct of Credit Union Business
Fin. Code, § 16603
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Any foreign (other nation) credit union that is authorized to and does maintain a branch office or agency 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 nation) credit union or any subsidiary from complying with all other laws and regulations governing the business in which the foreign (other nation) 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.
Notes and commentary — not statutory text
History
Added by Stats. 2000, Ch. 612, Sec. 4. 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=16603.
- Text hash
- sha256 710e003e62ec0991e4fcda25116993dfe6597f253bbde0048d800c6f0dd056f6
- 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
This section cites
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California Constitution
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