209 CMR, § 58.05 - Application Requirements for Interstate Branching
(1)
Application.
(a)
Massachusetts-chartered
Credit Union
. A Massachusetts-chartered credit union seeking to
establish a branch which is located within 100 miles of its main office and
which is within Connecticut, Maine, New Hampshire, Rhode Island, Vermont, or
New York must submit an application to the Division of Banks in a form
prescribed by the Commissioner .
(b)
Foreign Credit Union
. A foreign credit union seeking
to establish a branch in Massachusetts must submit an application to its state
regulator.
(2)
Timing. Each credit union is restricted to submitting
one application in a 12-month period.
Notes
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