State Codes and Statutes
Statutes > Maryland > Financial-institutions > Title-6 > Subtitle-8 > 6-808§ 6-808. Out-of-state credit union.
(a) Branch - Notice to Commissioner.- An out-of-state credit union shall provide the Commissioner, within 15 days of opening a branch in the State, with a notice of the opening of the branch.
(b) Qualifications under § 7-203 of the Corporations and Associations Article.- A credit union chartered and primarily regulated by another state that proposes to establish a branch in this State shall qualify under § 7-203 of the Corporations and Associations Article to do business in the State as a foreign corporation.
(c) Additional branches.- An out-of-state credit union that has a branch in this State may establish additional branches in this State:
(1) To the same extent as a credit union; or
(2) To the extent otherwise permitted by federal law.
[2001, ch. 147, § 1; ch. 148, § 1.]
