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Can you summarize MDCM Fin. Inst., Title 6?
Financial Institutions
Short Summary
The provided legal document content includes various sections from the Code of Maryland that govern credit unions incorporated under the laws of Maryland. These sections cover a wide range of topics, including definitions, membership eligibility and requirements, treatment of interest-bearing or share accounts, participation in insurance programs, reserve fund requirements, permissible investments, organization of credit union service organizations, fixed assets, annual assessments, marketing arrangements, books and records retention, conversion, merger, consolidation, dissolution, receivership, purchase or assumption, establishment of branches, and the use of the term ‘credit union’ in names or titles. The documents apply to credit unions incorporated under the laws of Maryland, credit union share guaranty corporations, and individuals with share and deposit accounts in credit unions. However, specific exemptions and penalties for non-compliance are not mentioned in the provided document content.
Whom does it apply to?
These documents apply to credit unions incorporated under the laws of Maryland, credit union share guaranty corporations, and individuals with share and deposit accounts in credit unions.
What does it govern?
The provided legal document content covers various aspects of credit unions incorporated under the laws of Maryland, including definitions, membership eligibility and requirements, treatment of interest-bearing or share accounts, participation in insurance programs, reserve fund requirements, permissible investments, organization of credit union service organizations, fixed assets, annual assessments, marketing arrangements, books and records retention, conversion, merger, consolidation, dissolution, receivership, purchase or assumption, establishment of branches, and the use of the term 'credit union' in names or titles.
What are exemptions?
No specific exemptions are mentioned in the provided document content.
What are the Penalties?
Specific penalties for non-compliance or violation of the documents provisions are not mentioned in the provided document content.
Jurisdiction
Maryland