Section 6-404 - Reports to Commissioner. - Maryland Statutes

§ 6-404. Reports to Commissioner.
 

(a)  Annual report.- On or before March 31 of each year, each credit union shall report to the Commissioner on the business of the credit union during the preceding calendar year. 

(b)  Additional reports.- The Commissioner may require any other reports from a credit union that the Commissioner considers necessary. 

(c)  Form of report.- Each report made under this section shall be: 

(1) On the form that the Commissioner provides; and 

(2) Signed and acknowledged by: 

(i) A majority of the members of the supervisory committee; and 

(ii) The president, vice-president, secretary, or treasurer of the credit union. 

(d)  Fine for failure to report.- If a credit union fails to make any report as required by this title, the credit union shall pay to the Commissioner $50 for each day that the report is overdue. 
 

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