Section 6-305 - Execution and contents of articles of incorporation and agreement. - Maryland Statutes

§ 6-305. Execution and contents of articles of incorporation and agreement.
 

(a)  Execution.- The incorporators shall sign and acknowledge three copies of articles of incorporation. 

(b)  Contents of articles of incorporation.- The articles of incorporation shall include: 

(1) The name and residential address of each incorporator; 

(2) A statement that each incorporator is 18 years of age or older; 

(3) A statement that the incorporators are associating to form a credit union under this title; 

(4) The name of the credit union; 

(5) The field of membership type as described in § 6-301 of this subtitle; 

(6) The municipal area and county where the credit union is to be located; 

(7) The par value of the shares of the credit union; 

(8) The number of shares to which each incorporator subscribes; 

(9) The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; and 

(10) The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify. 
 

[CA § 6-303; 1980, ch. 33, § 2; ch. 679; 2001, ch. 147, § 1; ch. 148, § 1.]