Md. Code, Financial Institutions § 6-305
This is the official text of Md. Code, Financial Institutions § 6-305, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§6–305.
Official statutory text
(a) The incorporators shall sign and acknowledge three copies of articles of incorporation.
(b) The articles of incorporation shall include:
(1) The name and residential address of each incorporator;
(2) A statement that each incorporator is 18 years of age or older;
(3) A statement that the incorporators are associating to form a credit union under this title;
(4) The name of the credit union;
(5) The field of membership type as described in § 6-301 of this subtitle;
(6) The municipal area and county where the credit union is to be located;
(7) The par value of the shares of the credit union;
(8) The number of shares to which each incorporator subscribes;
(9) The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; and
(10) The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.
(b) The articles of incorporation shall include:
(1) The name and residential address of each incorporator;
(2) A statement that each incorporator is 18 years of age or older;
(3) A statement that the incorporators are associating to form a credit union under this title;
(4) The name of the credit union;
(5) The field of membership type as described in § 6-301 of this subtitle;
(6) The municipal area and county where the credit union is to be located;
(7) The par value of the shares of the credit union;
(8) The number of shares to which each incorporator subscribes;
(9) The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; and
(10) The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.
Status: in_force · Read it on the official government site
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