Foreign credit unions

§ 462. Foreign credit unions. Subject to such regulations as the\nsuperintendent may adopt, any credit union located in a state other than\nthis state may open and maintain in this state, in any locality in which\na substantial portion of its actual or potential membership is employed\nor residing, one or more stations for the conduct of its business\nprovided that before any such station or stations shall be opened or\nmaintained or removed to a new location:\n 1. Its board of directors shall submit to the superintendent a written\napplication setting forth the reasons therefor and the proposed location\nof such station or stations. The application for each such station shall\nbe accompanied by a fee as prescribed pursuant to section eighteen-a of\nthis chapter.\n 2. The superintendent shall have given his written approval thereto.\n