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§ 6-305. Articles of incorporation and agreement

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 6. Credit Unions (Refs & Annos)
Subtitle 3. Formation, Organization, and Powers (Refs & Annos)
Part I. Formation
MD Code, Financial Institutions, § 6-305
§ 6-305. Articles of incorporation and agreement
Currentness
In general
(a) The incorporators shall sign and acknowledge three copies of articles of incorporation.
Contents of articles of incorporation
(b) The articles of incorporation shall include:
(1) The name and residential address of each incorporator;
(2) A statement that each incorporator is 18 years of age or older;
(3) A statement that the incorporators are associating to form a credit union under this title;
(4) The name of the credit union;
(5) The field of membership type as described in § 6-301 of this subtitle;
(6) The municipal area and county where the credit union is to be located;
(7) The par value of the shares of the credit union;
(8) The number of shares to which each incorporator subscribes;
(9) The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law;1 and
(10) The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.

Credits

Added as Financial Institutions § 6-202 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 679. Renumbered as Financial Institutions § 6-305 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.

Footnotes

1
Corporations and Associations, § 1-101 et seq.
MD Code, Financial Institutions, § 6-305, MD FIN INST § 6-305
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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