Added by Stats. 2012, Ch. 246, Sec. 1. (AB 2006) Effective January 1, 2013.
(a)Notwithstanding subdivision (b) of Section 14800 or Section 14750, a credit union may do all of the following:
(1)Provide the services specified in paragraph (2) to a natural person within the field of membership, regardless of whether the person is admitted to membership, and charge a fee for the provision of those services, which fee shall not exceed the cost to provide those services.
(2)(A) Sell checks and other similar money transfer instruments, including international and domestic electronic fund transfers.
(B)Cash checks and other similar
money transfer instruments and receive international and domestic electronic fund transfers.
(b)For purposes of this section, “checks” shall have the same meaning as set forth in subdivision (f) of Section 3104 of the Commercial Code.
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