Section 6-607 - Participation with other institutions. - Maryland Statutes

§ 6-607. Participation with other institutions.
 

(a)  Authorized.- Subject to the provisions of subsection (b) of this section, a credit union may participate with a depository financial institution or a credit union service organization for purposes of making a loan to a credit union member in accordance with the lending policies of the board. 

(b)  Retention of 10% interest.- A credit union may participate in a loan under subsection (a) of this section provided that the credit union that originates the loan retains an interest of at least 10% of the face amount of the loan. 
 

[2001, ch. 147, § 1; ch. 148, § 1.]