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 credit union from establishing a branch in another state or in a foreign nation, as defined, without obtaining specified approval. This bill would authorize a state-certified credit union, with the approval of the appropriate tribal government, to operate a branch office on an Indian reservation.