Bill Text: CA AB2646 | 2011-2012 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Credit unions: branch offices: Indian reservations.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-04-16 - In committee: Set, first hearing. Hearing canceled at the request of author. [AB2646 Detail]

Download: California-2011-AB2646-Introduced.html

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BILL NUMBER: AB 2646	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Gatto

                        FEBRUARY 24, 2012

   An act relating to credit unions.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2646, as introduced, Gatto. Credit unions: branch offices:
Indian reservations.
   Existing law provides for the formation and regulation of
state-certified credit unions and requires that a credit union obtain
a certificate of authority from the Commissioner of Financial
Institutions to transact business as a credit union. Existing law
prohibits a foreign (other nation) credit union from maintaining an
office in this state at which it engages in representational
functions unless it is licensed to maintain a representative office,
agency, or branch at that place, as specified.
   This bill would state the intent of the Legislature to enact
legislation that would authorize a state-certified credit union to
operate a branch office on an Indian reservation.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  It is the intent of the Legislature to enact
legislation that would authorize a state-certified credit union to
operate a branch office on an Indian reservation.