1. (a) On or before March 31 of each year, each credit union shall report to the Commissioner on the business of the credit union during the preceding calendar year.
2. (b) The Commissioner may require any other reports from a credit union that the Commissioner considers necessary.

3. (c) Each report made under this section shall be:

   1. (1) On the form that the Commissioner provides; and

   2. (2) Signed and acknowledged by:

      1. (i) A majority of the members of the supervisory committee; and
      2. (ii) The president, vice-president, secretary, or treasurer of the credit union.
4. (d) If a credit union fails to make any report as required by this title, the credit union shall pay to the Commissioner $50 for each day that the report is overdue.

Added as Financial Institutions § 6-304 by Added 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 § 6-404 and amended by Acts 2001, c. 147, § 1, eff. Oct. 1, 2001; Acts 2001, c. 148, § 1, eff. Oct. 1, 2001.

Formerly Art. 11, § 141.