§ 14202 Credit Union Activity Authorization

Financial Code·California

AI SummaryVerified

This law lets California credit unions do the same things that federal credit unions can do, but only for two years at a time.

Key Takeaways

•California credit unions can do what federal credit unions do, but only if the state says it's okay.
•The state's permission only lasts for two years.
•After two years, the state has to say yes again if they want to keep allowing it.

Example

A California credit union wants to offer a new type of loan that federal credit unions already offer.

The state can say yes, but this permission will expire after two years unless they renew it.

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

Official Source

View on CA.gov

§ 14202 Credit Union Activity Authorization

The commissioner may by regulation authorize credit unions organized under the provisions of this division to engage in any activity authorized by law or regulation for credit unions organized under the laws of the United States. Any such regulation shall expire on the first day of January two years following the end of the calendar year in which such regulation was promulgated. (Amended by Stats. 1982, Ch. 270, Sec. 1.)

Last verified: January 11, 2026

Key Terms

commissioner credit unions regulation authorized by law or regulation

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14202.

Key Takeaways

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Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

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