Md. Code, Financial Institutions § 7-102
This is the official text of Md. Code, Financial Institutions § 7-102, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§7–102.
Official statutory text
(a) There is a Credit Union Insurance Corporation, established as a nonprofit, nonstock corporation, the members of which are credit unions that are accepted for membership under this part.
(b) (1) The Corporation is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) All debts, claims, obligations, and liabilities of the Corporation, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Corporation only and not of the State, its agencies, instrumentalities, officers, or employees.
(3) The Corporation money may not be considered part of the General Fund of the State.
(4) The debts, claims, obligations, and liabilities of the Corporation may not be considered to be a debt of the State or a pledge of its credit.
(b) (1) The Corporation is not and may not be deemed a department, unit, agency, or instrumentality of the State for any purpose.
(2) All debts, claims, obligations, and liabilities of the Corporation, whenever incurred, shall be the debts, claims, obligations, and liabilities of the Corporation only and not of the State, its agencies, instrumentalities, officers, or employees.
(3) The Corporation money may not be considered part of the General Fund of the State.
(4) The debts, claims, obligations, and liabilities of the Corporation may not be considered to be a debt of the State or a pledge of its credit.
Status: in_force · Read it on the official government site
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