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§ 7-207. Approval or denial of application

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 7. Credit Union Share Insurance
Subtitle 2. Credit Union Share Guaranty Corporations (Refs & Annos)
MD Code, Financial Institutions, § 7-207
§ 7-207. Approval or denial of application
Currentness
Investigation by Commissioner
(a) When an applicant for a certificate of authority files the application and pays the application fee required under § 7-206 of this subtitle, the Commissioner shall conduct an investigation to determine if the applicant meets the requirements of § 7-205 of this subtitle.
Deadline for determination
(b) Unless the Commissioner notifies the applicant that a different time period is necessary, the Commissioner shall approve or deny each application for a certificate of authority within 120 days after the complete application is filed and the application fee is paid.
Issuance of certificate to qualified applicants
(c) The Commissioner shall issue a certificate of authority to any applicant who meets the requirements of this subtitle.

Credits

Added by Acts 2002, c. 540, § 1, eff. July 1, 2002.
MD Code, Financial Institutions, § 7-207, MD FIN INST § 7-207
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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