Maryland Statutes
Subtitle 7 - Miscellaneous Regulations
Section 6-708 - Power to Borrow

(a)    (1)    Subject to the provisions of paragraph (2) of this subsection, a credit union may borrow money for the purchase of fixed assets.
        (2)    The term of the loan may not exceed:
            (i)    15 years for borrowings secured by real or leasehold property; and
            (ii)    5 years for borrowings secured by other fixed assets.
    (b)    A credit union may borrow money for a purpose other than the purchase of fixed assets as long as the total borrowing does not exceed the greater of:
        (1)    Two times the net worth of the borrowing credit union; or
        (2)    10% of the total assets of the borrowing credit union.

Structure Maryland Statutes