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§ 6-321. Amendments to bylaws or articles of incorporation voted on by mail ballot

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, § 6-321
§ 6-321. Amendments to bylaws or articles of incorporation voted on by mail ballot
Currentness
Authorization and determination of dates by board
(a) The board:
(1) By resolution may authorize an amendment to the bylaws or articles of incorporation to be voted on by mail ballot; and
(2) Shall establish a sequence of dates by which the voting procedures are initiated and completed.
Ballots mailed to members in good standing
(b) The secretary of the credit union shall mail to each member in good standing:
(1) A printed ballot;
(2) A copy of any old bylaw or article of incorporation affected by the proposed amendment; and
(3) A copy of the proposed bylaw or article of incorporation.
Results of mail balloting
(c)(1) The amendment is adopted only if approved by two-thirds of the mail ballots timely received from the members in good standing and voting.
(2) The credit union shall report the results of the mail ballot to the credit union members.

Credits

Added as Financial Institutions § 6-223 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1989, c. 802; Acts 1992, c. 445. Renumbered as Financial Institutions § 6-321 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, § 6-321, MD FIN INST § 6-321
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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