Maryland Statutes
Subtitle 11 - Mutual Association Conversion to a Credit Union
Section 9-1101 - "Mutual Association" Defined

In this subtitle, “mutual association” means an association that:
        (1)    Is a corporation chartered under the laws of the State as a savings and loan association that does not have the authority to issue capital stock;
        (2)    Is insured by the State of Maryland Deposit Insurance Corporation; and
        (3)    Has assets of $15,000,000 or less or had total assets of less than $15,000,000 as of May 18, 1985.

Structure Maryland Statutes