§ 7-209. Suspension or revocation of certificate of authority
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 7-209
§ 7-209. Suspension or revocation of certificate of authority
(a) The Commissioner may suspend or revoke the certificate of authority of a credit union share guaranty corporation if the credit union share guaranty corporation or a director or officer of the credit union share guaranty corporation:
(b) In determining whether the certificate of authority of a credit union share guaranty corporation should be suspended or revoked for a conviction listed in subsection (a)(2) of this section, the Commissioner shall consider:
(c)(1) The Commissioner may enforce the provisions of this subtitle and any rule or regulation adopted under this subtitle by:
(d) The Commissioner may file a petition in the circuit court for a county seeking enforcement of an order issued under this section.
(e) In determining the amount of financial penalty to be imposed under subsection (c) of this section, the Commissioner shall consider:
(f)(1) Before the Commissioner takes any action under subsection (a) or (c) of this section, the Commissioner shall give the credit union share guaranty corporation an opportunity for a hearing.
(2) A hearing under this subtitle shall be held in accordance with the Administrative Procedure Act.1
Credits
Added by Acts 2002, c. 540, § 1, eff. July 1, 2002.
Footnotes
State Government § 10-101 et seq.
MD Code, Financial Institutions, § 7-209, MD FIN INST § 7-209
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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