Md. Code Ann., Fin. Inst. § 6-312
Specific powers
Effective Oct 1, 2001Added as Financial Institutions § 6-207 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 6-312 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.State of Maryland
- (1) Receive the shares and deposits of its members;
- (2) Lend money to its members;
- (3) Invest funds as provided in this title; and
(4) Undertake other activities that:
- (i) Are consistent with this title;
- (ii) Relate to its purposes; and
- (iii) Are authorized by its bylaws.
In addition to the powers set forth elsewhere in this title, a credit union may:
Added as Financial Institutions § 6-207 by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1996, c. 326, § 2, eff. July 1, 1996. Renumbered as Financial Institutions § 6-312 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.