Md. Code Ann., Fin. Inst. § 6-319
Removal of members
Effective Oct 1, 2001Added as Financial Institutions § 6-221 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1992, c. 445. Renumbered as Financial Institutions § 6-319 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.State of Maryland
(a) Subject to the applicable provisions of the bylaws, the board may expel any member of the credit union who:
- (1) Defaults on the payment of any monetary obligation to the credit union;
- (2) Is convicted of a criminal offense involving dishonesty or breach of trust;
- (3) Neglects or refuses to comply with the provisions of this title or of the bylaws of the credit union;
- (4) Habitually neglects to pay debts or becomes insolvent or bankrupt; or
- (5) Subject to the provisions of subsection (b) of this section, violates a written expulsion policy adopted by the board.
(b)
- (1) The board shall post conspicuously at each office of the credit union a notice of any expulsion policy adopted by the board.
- (2) A person expelled by the board may request a reconsideration of the expulsion.
Added as Financial Institutions § 6-221 by Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1992, c. 445. Renumbered as Financial Institutions § 6-319 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.