Maryland Statutes
Title 6 - Credit Unions
Subtitle 3 - Formation, Organization, and Powers

Part I - Formation

Section 6-301 - Formation in General - (a) In this section, “organization” includes any trade, profession, club,...

Section 6-302 - Membership - (a) In this section, “immediate family relative” means: (1) A...

Section 6-303 - Expanding Common Bond Membership Fields - (a) (1) Subject to the provisions of § 6-301(c) and...

Section 6-304 - Changing Membership Type - (a) A credit union may convert to another field of...

Section 6-305 - Execution and Contents of Articles of Incorporation and Agreement - (a) The incorporators shall sign and acknowledge three copies of...

Section 6-306 - Adoption and Contents of Bylaws - (a) The incorporators shall adopt bylaws for the credit union...

Section 6-307 - Articles of Incorporation and Bylaws -- Filing for Examination and Approval - (a) The incorporators shall: (1) File with the Commissioner for...

Section 6-308 - Articles of Incorporation and Bylaws -- Filing for Record - (a) If the Commissioner approves the articles and bylaws, the...

Section 6-309 - Articles of Incorporation - (a) When filing the articles of incorporation and bylaws with...

Part II - Powers of a Credit Union

Section 6-312 - General Powers - In addition to the powers set forth elsewhere in this...

Section 6-313 - Powers Authorized by Federal Law - (a) Notwithstanding any other provision of the laws or regulations...

Section 6-314 - Capital - (a) Without being required to take any action to perfect...

Part III - Members of a Credit Union

Section 6-317 - Meetings of Members; Voting - (a) (1) The annual meeting of the members shall be...

Section 6-318 - Voting by Mail Ballots - (a) The provisions of this section do not apply to:...

Section 6-319 - Expulsion and Withdrawal of Members - (a) Subject to the applicable provisions of the bylaws, the...

Section 6-320 - Amendment of Bylaws or Articles of Incorporation -- in General - (a) (1) The board may amend the articles of incorporation...

Section 6-321 - Amendment of Bylaws or Articles of Incorporation -- Mail Ballot - (a) The board: (1) By resolution may authorize an amendment...

Part IV - Officials and Officers

Section 6-324 - Management of Credit Union - The board shall have the authority and responsibility for the...

Section 6-325 - Directors -- Number, Qualifications, Tenure, and Oath - (a) Each credit union shall have at least five directors....

Section 6-326 - Directors -- Vacancy or Removal; Filling Vacancy - (a) The office of a director becomes vacant if the...

Section 6-327 - Director Emeritus - (a) If the bylaws provide, a director emeritus may advise...

Section 6-328 - Directors -- Duties - (a) In addition to any power or duty provided for...

Section 6-329 - Directors -- Election by Mail Ballot - (a) Subject to the provisions of this section, the directors...

Section 6-330 - Officers - (a) Within 15 days after the annual meeting of the...

Section 6-331 - Compensation - (a) In this section, “compensation” means anything of value given...

Section 6-332 - Suspension of Directors, Officers, and Credit Committee Members - (a) A board may call a special meeting of the...

Section 6-333 - Education of Officials - (a) The board shall prepare a plan for educating each...