reglab/housing_qa huggingface dataset:
MD. Financial Institutions Code Ann. §  7-101 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part I - Definitions|Section 7-101 - Definitions

    (a)    In this subtitle the following words have the meanings indicated.    (b)    “Corporation” means the Credit Union Insurance Corporation.    (c)    “Credit union” means:        (1)    Any credit union that is incorporated under the laws of this State; and        (2)    Any other credit union that is authorized to do business in this State and has its principal office in this State.
MD. Financial Institutions Code Ann. §  7-102 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-102 - Corporation Established

    (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.
MD. Financial Institutions Code Ann. §  7-103 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-103 - Purposes of Corporation

    The purposes of the Corporation are to:         (1)    Insure and guarantee the share and deposit accounts of member credit unions;        (2)    Improve and stimulate the ability of credit unions to provide low-cost consumer loans;        (3)    Promote the elasticity and flexibility of the resources of credit unions;        (4)    Make loans for liquidity purposes to credit unions;        (5)    Discount notes of credit unions;        (6)    Provide a State service of lending among credit unions;        (7)    Help rehabilitate and stabilize credit unions;        (8)    Help liquidate credit unions in an orderly manner when necessary;        (9)    Help strengthen and develop credit unions serving low-income individuals; and        (10)    Cooperate with and assist credit unions, organizations of credit unions, the Commissioner, the National Credit Union Administration, and others in improving the general welfare of the people through credit unions.
MD. Financial Institutions Code Ann. §  7-105 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-105 - Insurance of Share and Deposit Accounts

    (a)    The Corporation shall insure and guarantee the share and deposit accounts of each member on the same basis, and to the same extent and amount as provided by the National Credit Union Administration Share Insurance Program.    (b)    The Corporation may make contracts for reinsurance.
MD. Financial Institutions Code Ann. §  7-106 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-106 - Membership -- Applications

    (a)    (1)    Subject to the provisions of Part III of this subtitle, any credit union may apply to the Corporation to become a member of the Corporation.        (2)    The Corporation shall refer each application that it receives to the Commissioner.    (b)    (1)    On receipt of an application for membership, the Commissioner shall examine the affairs of the credit union.        (2)    If the Commissioner finds that the credit union qualifies for membership under § 7–107 of this subtitle, the Commissioner shall certify that fact to the Corporation.    (c)    The Corporation may not extend benefits to any credit union until the Corporation receives the certification of the Commissioner.
MD. Financial Institutions Code Ann. §  7-107 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-107 - Membership -- Qualifications; Term; Termination; Duties

    (a)    (1)    A credit union becomes a member of the Corporation when:            (i)    The financial affairs, solvency, and management of a credit union have been certified by the Commissioner as approved for insurance of its share and deposit accounts; and            (ii)    The application of the credit union is accepted by the Board of Directors of the Corporation.        (2)    The Board of Directors of the Corporation may deny the application of a credit union only for good cause shown.    (b)    Subject to the bylaws, rules, and regulations of the Corporation and except as provided in subsection (c) of this section and Part III of this subtitle, membership in the Corporation continues as long as the Corporation exists.    (c)    (1)    If the Board of Directors of the Corporation finds that unsafe or unsound practices or mismanagement of a member threatens loss to the Corporation or appears to affect adversely the solvency of the member, the Board may:            (i)    Order the member to correct the situation; or            (ii)    With the approval of the Commissioner and after giving the member notice and an opportunity for a hearing, revoke the membership of the credit union.        (2)    A credit union that is organized under federal law or the laws of any other state may withdraw from the Corporation by:            (i)    Giving written notice at least 1 year in advance; and            (ii)    Complying with the bylaws, rules, and regulations of the Corporation.    (d)    Each member of the Corporation shall make the investments and pay the assessments, premiums, and other charges required for participation in the Corporation.
MD. Financial Institutions Code Ann. §  7-108 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-108 - Membership -- Voting by Members

    (a)    In the election of directors and in voting on any other matter at a meeting of the members of the Corporation, each member has one vote, to be cast by its delegate.    (b)    A delegate may not vote on behalf of more than one member.    (c)    A majority of the votes cast is sufficient to elect directors or decide any questions voted on by the members.
MD. Financial Institutions Code Ann. §  7-109 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-109 - Board of Directors

    (a)    The powers of the Corporation shall be exercised by its Board of Directors.    (b)    The Board of Directors consists of 11 directors elected by the members of the Corporation.    (c)    Each director shall be a resident of this State.    (d)    (1)    Each director serves for a term of 4 years and until a successor is chosen and qualifies.        (2)    The terms of the directors shall be staggered as required by the terms provided for directors on July 1, 1988.        (3)    If a vacancy occurs as to an elected director, the Board of Directors shall elect a successor to fill the vacancy until the next annual meeting of the members of the Corporation. At the annual meeting, the members of the Corporation shall elect a successor to serve for the rest of the term and until a successor is elected and qualifies.    (e)    A majority of the full authorized membership of the Board of Directors is a quorum.    (f)    Each director is entitled to reasonable compensation, as set by the Board of Directors with the approval of the Commissioner.
MD. Financial Institutions Code Ann. §  7-110 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-110 - Officers and Staff

    (a)    (1)    The Board of Directors of the Corporation:            (i)    Shall elect one of its members as chairman of the Board; and            (ii)    May appoint any officers and employees that it considers advisable.        (2)    The manner of election of the chairman and appointment of officers and their terms of office shall be as the bylaws provide.    (b)    In accordance with the bylaws of the Corporation, the Board of Directors shall set the amount of the fidelity bonds of the officers and employees of the Corporation.
MD. Financial Institutions Code Ann. §  7-111 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-111 - Bylaws, Rules, and Regulations

    (a)    The Board of Directors of the Corporation shall adopt bylaws for the Corporation and rules and regulations to carry out the provisions of this title.    (b)    (1)    A bylaw, rule, or regulation becomes effective only after it is submitted to and approved by the Commissioner.        (2)    A bylaw, rule, or regulation is considered approved if the Commissioner does not notify the Corporation of disapproval and the reasons for it within 30 days after submission of the bylaw, rule, or regulation.        (3)    The Commissioner may disapprove a bylaw, rule, or regulation only if the Commissioner has reason to believe that:            (i)    It is contrary to the principles or purposes of this title; or            (ii)    It does not serve the best interests of the public.
MD. Financial Institutions Code Ann. §  7-112 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-112 - Independent Audits of Members

    The Corporation may require independent audits and investigations of any member to determine the member’s financial condition as it relates to insurance of share and deposit accounts. These audits and investigations shall be made at the expense of the credit union.
MD. Financial Institutions Code Ann. §  7-113 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-113 - Cooperation and Exchange of Information

    (a)    This section applies notwithstanding any other provisions of law.    (b)    (1)    The Corporation and the Commissioner may exchange information about credit unions.        (2)    The Commissioner shall make available to the Corporation all examinations of credit unions that are members of the Corporation.    (c)    If a credit union is not incorporated under the laws of this State, the credit union may not be accepted as a member of the Corporation unless it submits a written statement from the agency that regulates it stating that the agency will cooperate with the Commissioner in carrying out the provisions of this title.
MD. Financial Institutions Code Ann. §  7-114 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-114 - Earnings to Be Accumulated

    The net earnings of the Corporation shall be accumulated and may not be returned to its members.
MD. Financial Institutions Code Ann. §  7-115 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-115 - Application of State Insurance Laws

    The Corporation, its members, and persons who have share and deposit accounts in credit unions are not subject to the provisions of the Insurance Article as a result of any of the activities of the Corporation under this title.
MD. Financial Institutions Code Ann. §  7-116 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-116 - Exemption From Taxation

    The Corporation is exempt from all taxes imposed by this State or any of its political subdivisions under §§ 20–101, 20–104, 20–108, 20–113 through 20–127, 20–601, 20–603 through 20–609, 20–805, and 20–806, and Title 20, Subtitles 3 through 5 of the Local Government Article, Title 6, Subtitle 1 of the Insurance Article, the Tax – General Article, or the Tax – Property Article.
MD. Financial Institutions Code Ann. §  7-117 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part II - Establishment; Powers; Membership|Section 7-117 - State's Credit Not Pledged

    This title does not, and the Corporation may not, pledge the faith or credit of this State.
MD. Financial Institutions Code Ann. §  7-118 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part III - Phase-Out; Dissolution|Section 7-118 - End of Authority to Accept Applications; Notice

    (a)    The Corporation may not accept an application from a credit union for new membership on or after the date that the Commissioner issues the first certificate of authority under § 7-203 of this title.    (b)    The Commissioner shall notify the Corporation of the date that the Commissioner issues the first certificate of authority under § 7-203 of this title.
MD. Financial Institutions Code Ann. §  7-119 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part III - Phase-Out; Dissolution|Section 7-119 - Primary Share Guaranty Insurance

    (a)    A credit union that is a member of the Corporation shall obtain primary share guaranty insurance with:        (1)    The National Credit Union Administration Share Insurance Program; or        (2)    A credit union share guaranty corporation regulated under Subtitle 2 of this title that is approved by the Commissioner to provide primary share guaranty insurance at least to the same extent and amount as provided by the National Credit Union Administration Share Insurance Program.    (b)    A credit union that is a member of the Corporation shall comply with the provisions of subsection (a) of this section within 2 years after the date that the Commissioner issues the first certificate of authority under § 7-203 of this title.
MD. Financial Institutions Code Ann. §  7-121 (2021)
2021 Maryland Statutes|Financial Institutions|Title 7 - Credit Union Share Insurance|Subtitle 1 - Credit Union Insurance Corporation|Part III - Phase-Out; Dissolution|Section 7-121 - Providing Required Information

    The Commissioner may require the Corporation to provide any information that the Commissioner deems necessary to determine whether the phase-out and dissolution of the Corporation are in accordance with the provisions of this part.
MD. Financial Institutions Code Ann. §  9-201 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-201 - Purpose

    A savings and loan association shall be organized for the purpose of receiving funds and making loans authorized by this title.
MD. Financial Institutions Code Ann. §  9-202 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-202 - Formation in General

    (a)    Subject to the provisions of this subtitle, five or more adult individuals, each of whom is a resident of this State and a citizen of the United States, may act as incorporators to form a savings and loan association under this title.    (b)    The incorporators shall elect a chairman from among themselves.
MD. Financial Institutions Code Ann. §  9-203 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-203 - Name of Savings and Loan Association

    The name of a savings and loan association:         (1)    Need not indicate that it is a corporation;        (2)    Shall contain one of the following phrases or any combination of the words:            (i)    “Savings association”;            (ii)    “Building association”;            (iii)    “Savings and loan association”; or            (iv)    “Building and loan association”;        (3)    May not be similar in any material or misleading respect to the name of any other State or federal savings and loan association, except that a savings and loan association in operation before July 1, 1980 may continue to operate under its existing name; and        (4)    May not include the words “commercial”, “federal”, “government”, “guaranteed”, “insured”, “Maryland”, “national”, “trust”, “trustee”, or “United States”, except that a savings and loan association in operation before July 1, 1986 may continue to operate under its existing name.
MD. Financial Institutions Code Ann. §  9-205 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-205 - Application to Organize

    To organize as a savings and loan association, the incorporators shall submit to the Division Director:         (1)    A written application on the form that the Division Director requires;        (2)    The executed articles of incorporation and a conformed copy;        (3)    The proposed bylaws;        (4)    Any other exhibits the Division Director requires; and        (5)    A filing fee of $1,000.
MD. Financial Institutions Code Ann. §  9-206 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-206 - Publication of Filing; Hearing Set

    (a)    (1)    On receipt of the items listed in § 9-205 of this subtitle, the Division Director shall publish a notice of the filing.        (2)    The notice shall state that:            (i)    A public hearing may be held on a date that is at least 30 days and not more than 60 days after the filing;            (ii)    Written protests to the application shall be received no later than 10 days before the scheduled hearing; and            (iii)    If the Division Director does not receive any written protest within the time provided in the notice, the hearing may be canceled.    (b)    The notice shall be published:        (1)    For at least 2 successive weeks in a newspaper of general circulation in the political subdivision where the principal office of the proposed savings and loan association in this State is to be located; and        (2)    In the Maryland Register as provided in the State Documents Law.    (c)    The Division Director may prohibit testimony by any person who did not file a protest that complies with subsection (a)(2)(ii) of this section.
MD. Financial Institutions Code Ann. §  9-207 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-207 - Division Director's Review

    The Division Director shall determine from the available information if:         (1)    The name of the proposed savings and loan association:            (i)    Is the same as an existing association or so similar to the name of an existing association as to mislead the public; and            (ii)    Complies with § 9-203 of this subtitle;        (2)    The character, responsibility, and general fitness of the incorporators, board of directors, officers and controlling persons of the proposed association qualifies those individuals to act as incorporators, directors, officers, or controlling persons;        (3)    The establishment of the proposed association and its location will promote the public interest; and        (4)    The proposed association, if a stock association, has subscription for capital stock in an amount determined by the Division Director to be sufficient for the safe and proper operation of the association, which in no event may be less than $1,000,000.
MD. Financial Institutions Code Ann. §  9-208 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-208 - Approval or Refusal; Appeal

    (a)    The Division Director may require any change in the proposed articles of incorporation or bylaws that the Division Director considers necessary.    (b)    (1)    Not later than 60 days after application, the Division Director shall pass a preliminary order in writing approving or refusing the application to organize.        (2)    The Division Director shall issue a final written order of approval for incorporation when the Division Director receives the surety bond under this subtitle and is satisfied that the initial accounts required under this subtitle are funded in cash.    (c)    An applicant aggrieved by the final order of the Division Director may appeal under § 8–403 of this article.    (d)    (1)    After the time for appeal of the order expires or on final determination of any appeal taken, the Division Director shall endorse and date each copy of the articles “approved” or “refused”.        (2)    If the Division Director approves the articles, the Division Director shall:            (i)    Return the endorsed, executed articles to the chairman of the incorporators; and            (ii)    Keep the conformed copy.        (3)    If the Division Director refuses the articles, the Division Director shall return the endorsed, executed articles to the chairman of the incorporators.
MD. Financial Institutions Code Ann. §  9-208.1 (2021)
2021 Maryland Statutes|Financial Institutions|Title 9 - Savings and Loan Associations|Subtitle 2 - Incorporation|Part I - In General|Section 9-208.1 - Approvals on or After July 1, 1990

    (a)    Except as provided in subsection (b) of this section, the Division Director may not approve any applications seeking incorporation of a newly formed savings and loan association under this title on or after July 1, 1990.    (b)    The Division Director may approve an application seeking incorporation of a newly formed savings and loan association under this title if:        (1)    The application provides that the newly formed association will, immediately after filing its articles of incorporation with the State Department of Assessments and Taxation, convert to a commercial bank under the provisions of §§ 9-631 through 9-639 of this title or convert to a federally chartered savings and loan association under §§ 9-613 through 9-615 of this title;        (2)    The association does not operate as a savings and loan association under this title; and        (3)    All other requirements set forth in this title and imposed by the Commissioner are satisfied.