Section 6-808 - Out-of-state credit union. - Maryland Statutes

§ 6-808. Out-of-state credit union.
 

(a)  Branch - Notice to Commissioner.- An out-of-state credit union shall provide the Commissioner, within 15 days of opening a branch in the State, with a notice of the opening of the branch. 

(b)  Qualifications under § 7-203 of the Corporations and Associations Article.- A credit union chartered and primarily regulated by another state that proposes to establish a branch in this State shall qualify under § 7-203 of the Corporations and Associations Article to do business in the State as a foreign corporation. 

(c)  Additional branches.- An out-of-state credit union that has a branch in this State may establish additional branches in this State: 

(1) To the same extent as a credit union; or 

(2) To the extent otherwise permitted by federal law. 
 

[2001, ch. 147, § 1; ch. 148, § 1.]