Home Table of Contents

§ 6-319. Removal of members

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 III. Members of a Credit Union
MD Code, Financial Institutions, § 6-319
§ 6-319. Removal of members
Currentness
In general
(a) Subject to the applicable provisions of the bylaws, the board may expel any member of the credit union who:
(1) Defaults on the payment of any monetary obligation to the credit union;
(2) Is convicted of a criminal offense involving dishonesty or breach of trust;
(3) Neglects or refuses to comply with the provisions of this title or of the bylaws of the credit union;
(4) Habitually neglects to pay debts or becomes insolvent or bankrupt; or
(5) Subject to the provisions of subsection (b) of this section, violates a written expulsion policy adopted by the board.
Notice of expulsion policy adopted by board
(b)(1) The board shall post conspicuously at each office of the credit union a notice of any expulsion policy adopted by the board.
(2) A person expelled by the board may request a reconsideration of the expulsion.

Credits

Added as Financial Institutions § 6-221 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1992, c. 445. Renumbered as Financial Institutions § 6-319 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.
MD Code, Financial Institutions, § 6-319, MD FIN INST § 6-319
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.
End of Document