Section 6-403 - Examinations of credit unions. - Maryland Statutes

§ 6-403. Examinations of credit unions.
 

(a)  "Examiner" defined.- In this section, "examiner" means: 

(1) The Commissioner; and 

(2) An individual whom the Commissioner designates as examiner. 

(b)  Examinations required.- An examiner shall visit each credit union and examine its business: 

(1) At least once during each calendar year, unless the Commissioner determines that, during a calendar year, an examination is unnecessary, in which event an examination shall occur no less frequently than once every 18 months; 

(2) When requested by the board or supervisory committee of the credit union; and 

(3) At any other time that the Commissioner considers necessary. 
 

[An. Code 1957, art. 11, §§ 20, 141, 142; 1980, ch. 33, § 2; 1996, ch. 326, § 2; 1997, ch. 585; 2001, ch. 147, § 1; ch. 148, § 1.]