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§ 6-607. Lending policies for credit union members

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 6. Credit Unions (Refs & Annos)
Subtitle 6. Loans (Refs & Annos)
MD Code, Financial Institutions, § 6-607
§ 6-607. Lending policies for credit union members
Currentness
In general
(a) Subject to the provisions of subsection (b) of this section, a credit union may participate with a depository financial institution or a credit union service organization for purposes of making a loan to a credit union member in accordance with the lending policies of the board.
Participation in loan
(b) A credit union may participate in a loan under subsection (a) of this section provided that the credit union that originates the loan retains an interest of at least 10% of the face amount of the loan.

Credits

Added by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.
MD Code, Financial Institutions, § 6-607, MD FIN INST § 6-607
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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