§ 6-706. Credit union service organizations
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 6-706
§ 6-706. Credit union service organizations
(a)(1) With the prior approval of the Commissioner, as required under subsection (b) of this section, a credit union may organize a credit union service organization.
(4) Unless the Commissioner notifies the credit union that a different time period is necessary, within 60 days of receipt of the notice specified in paragraph (2) of this subsection, the Commissioner shall notify the credit union of the determination on the approval of the organization of a credit union service organization.
(b)(1) Subject to the provisions of this subsection, a credit union may invest in and make loans to a credit union service organization.
(c) As deemed necessary by the Commissioner, the Commissioner shall have complete:
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, § 6-706, MD FIN INST § 6-706
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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