Section 7-211 - Payment of expenses; assessments. - Maryland Statutes

§ 7-211. Payment of expenses; assessments.
 

(a)  Payment of expenses.- A credit union share guaranty corporation shall pay all reasonable expenses for transportation, lodging, and meals associated with: 

(1) An examination required or permitted under § 7-210 of this subtitle; and 

(2) Any other examination or investigation conducted under this article that results in the discovery of a violation of this subtitle by the credit union share guaranty corporation. 

(b)  Assessments.-  

(1) A credit union share guaranty corporation shall pay an annual assessment of $5,000. 

(2) A credit union share guaranty corporation shall pay the assessment imposed under paragraph (1) of this subsection to the Commissioner on or before February 15 after the assessment is imposed. 
 

[2002, ch. 540.]