Article 7 - Examination, Reports, and Records

California Financial Code — §§ 16700-16704

Sections (5)

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.

(a)The commissioner may at any time investigate into the affairs and examine the books, accounts, and other records of a foreign (other nation) credit union and of any subsidiary thereof.

(b)The commissioner and any person designated by the commissioner shall have free access to any office of the foreign (other nation) credit union and to its books, accounts, and other records.

§ 16701

Amended by Stats. 2003, Ch. 404, Sec. 19. Effective January 1, 2004.

The commissioner may make an examination of a foreign (other nation) credit union at any office of the commissioner. The commissioner may make an examination of any office, within or outside of this state, of a foreign (other nation) credit union that maintains an office in this state.

§ 16702

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.

(a)Each foreign (other nation) credit union shall, within 10 days after receipt or within any extended time that the commissioner may specify, file with the commissioner a copy of any audit report obtained by, and of any examination report prepared for, the foreign (other nation) credit union.

(b)Each foreign (other nation) credit union shall file with the commissioner a copy of any response made by the foreign (other nation) credit union to an audit or examination report

referred to in subdivision (a) within 10 days after making the response or within any extended time that the commissioner may specify.

§ 16703

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.

A foreign (other nation) credit union shall file with the commissioner any other report as the commissioner may from time to time require. Each report shall be in the form, contain the information, and be filed on the date, as may be prescribed by the commissioner.

§ 16704

Added by Stats. 2000, Ch. 612, Sec. 4. Effective January 1, 2001.

Each foreign (other nation) credit union that maintains an office shall make, keep, and preserve at that office, 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 office, in the form, in the manner, and for the time that the commissioner may, by regulation or order, require.