Section 7-103 - Purposes of Corporation. - Maryland Statutes

§ 7-103. Purposes of Corporation.
 

The purposes of the Corporation are to: 

(1) Insure and guarantee the share and deposit accounts of member credit unions; 

(2) Improve and stimulate the ability of credit unions to provide low-cost consumer loans; 

(3) Promote the elasticity and flexibility of the resources of credit unions; 

(4) Make loans for liquidity purposes to credit unions; 

(5) Discount notes of credit unions; 

(6) Provide a State service of lending among credit unions; 

(7) Help rehabilitate and stabilize credit unions; 

(8) Help liquidate credit unions in an orderly manner when necessary; 

(9) Help strengthen and develop credit unions serving low-income individuals; and 

(10) Cooperate with and assist credit unions, organizations of credit unions, the Commissioner, the National Credit Union Administration, and others in improving the general welfare of the people through credit unions. 
 

[An. Code 1957, art. 23, § 452; 1980, ch. 33, § 2; 1996, ch. 326, § 2; 2002, ch. 540.]