Maryland Statutes
Financial Institutions
Title 7 - Credit Union Share Insurance

Subtitle 1 - Credit Union Insurance Corporation

Section 7-101 - Definitions - (a) In this subtitle the following words have the meanings...

Part II - Establishment; Powers; Membership

Section 7-102 - Corporation Established - (a) There is a Credit Union Insurance Corporation, established as...

Section 7-103 - Purposes of Corporation - The purposes of the Corporation are to: (1) Insure and...

Section 7-104 - General Powers and Duties - (a) The Corporation exercises its powers and performs its duties...

Section 7-105 - Insurance of Share and Deposit Accounts - (a) The Corporation shall insure and guarantee the share and...

Section 7-106 - Membership -- Applications - (a) (1) Subject to the provisions of Part III of...

Section 7-107 - Membership -- Qualifications; Term; Termination; Duties - (a) (1) A credit union becomes a member of the...

Section 7-108 - Membership -- Voting by Members - (a) In the election of directors and in voting on...

Section 7-109 - Board of Directors - (a) The powers of the Corporation shall be exercised by...

Section 7-110 - Officers and Staff - (a) (1) The Board of Directors of the Corporation: (i)...

Section 7-111 - Bylaws, Rules, and Regulations - (a) The Board of Directors of the Corporation shall adopt...

Section 7-112 - Independent Audits of Members - The Corporation may require independent audits and investigations of any...

Section 7-113 - Cooperation and Exchange of Information - (a) This section applies notwithstanding any other provisions of law....

Section 7-114 - Earnings to Be Accumulated - The net earnings of the Corporation shall be accumulated and...

Section 7-115 - Application of State Insurance Laws - The Corporation, its members, and persons who have share and...

Section 7-116 - Exemption From Taxation - The Corporation is exempt from all taxes imposed by this...

Section 7-117 - State's Credit Not Pledged - This title does not, and the Corporation may not, pledge...

Part III - Phase-Out; Dissolution

Section 7-118 - End of Authority to Accept Applications; Notice - (a) The Corporation may not accept an application from a...

Section 7-119 - Primary Share Guaranty Insurance - (a) A credit union that is a member of the...

Section 7-120 - Dissolution of Corporation - (a) (1) In this section, “assets” means: (i) All net...

Section 7-121 - Providing Required Information - The Commissioner may require the Corporation to provide any information...

Subtitle 2 - Credit Union Share Guaranty Corporations

Section 7-201 - Definitions - (a) In this subtitle the following words have the meanings...

Section 7-202 - Applicability - The provisions of this subtitle do not apply to the...

Section 7-203 - Certificate of Authority Required - (a) A person may not conduct business as a credit...

Section 7-204 - Insuring Share and Deposit Accounts - (a) A credit union share guaranty corporation shall insure and...

Section 7-205 - Certificate of Authority -- Qualifications; Limitations - (a) To qualify for a certificate of authority under this...

Section 7-206 - Certificate of Authority -- Applications - (a) (1) To apply for a certificate of authority, an...

Section 7-207 - Certificate of Authority -- Approval - (a) When an applicant for a certificate of authority files...

Section 7-208 - Certificate of Authority -- Denial; Request for Hearing - (a) If an application for a certificate of authority is...

Section 7-209 - Certificate of Authority -- Suspension or Revocation - (a) The Commissioner may suspend or revoke the certificate of...

Section 7-210 - Examinations and Investigations - (a) (1) The Commissioner: (i) Shall examine the business of...

Section 7-211 - Payment of Expenses; Assessments - (a) A credit union share guaranty corporation shall pay all...

Section 7-212 - Reports - (a) (1) On or before April 1 of each year,...

Section 7-213 - Exchange of Information - (a) This section applies notwithstanding any other provision of law....

Section 7-214 - Contracts With Participating Credit Unions - (a) A credit union share guaranty corporation shall have a...

Section 7-215 - Notice to Commissioner - A credit union share guaranty corporation shall provide written notice...

Section 7-216 - Guaranty Fund - (a) (1) Except as provided in paragraph (2) of this...

Section 7-217 - Reserves for Guaranty Losses - (a) (1) A credit union share guaranty corporation shall establish...

Section 7-218 - Liquidation and Receivership - (a) The Commissioner shall give prompt notice to the applicable...

Section 7-219 - Termination of Participation - (a) A credit union share guaranty corporation may terminate the...

Section 7-220 - Violations; Penalty - A person who violates any provision of this subtitle is...

Section 7-221 - State Not Liable for Payment of Funds - Nothing in this subtitle creates any liability on the State...

Section 7-222 - Insurance Article Not Applicable - A credit union share guaranty corporation, its participating credit unions,...

Section 7-223 - Nonprofit Corporations - A credit union share guaranty corporation that is a nonprofit...

Section 7-224 - Rules and Regulations - The Commissioner may adopt rules and regulations to carry out...

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Maryland Statutes Financial Institutions Title 7 - Credit Union Share Insurance

Maryland Statutes
Financial Institutions
Title 7 - Credit Union Share Insurance