reglab/housing_qa huggingface dataset:
MD. Financial Institutions Code Ann. §  6-304 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-304 - Changing Membership Type

    (a)    A credit union may convert to another field of membership type, as described in § 6–301 of this subtitle, if:        (1)    The credit union:            (i)    Meets the common bond requirements of the proposed field of membership type; and            (ii)    Files with the Commissioner an application and any other documents that the Commissioner deems necessary to make a determination on the application; and        (2)    The Commissioner determines that approval:            (i)    Is in the best interest of the existing and proposed memberships;            (ii)    Provides a means for better service to the existing membership;            (iii)    Is in accordance with sound credit union practices; and            (iv)    Does not expose the funds of the existing members to unnecessary risk.    (b)    Unless the Commissioner notifies the credit union that a different time period is necessary, within 120 days after the application is filed, the Commissioner shall notify the credit union of the determination on the application.    (c)    (1)    No less than 30 days before the effective date of the conversion, the credit union shall give notice of the conversion to all groups of potential members of the credit union that will be removed from the field of membership as a result of the conversion.        (2)    On and after the effective date of the conversion, the credit union:            (i)    May not continue to serve groups within the field of membership of the credit union that no longer qualify for membership in the credit union as a result of the conversion; and            (ii)    May continue to serve members of a group identified under item (i) of this paragraph who are members before the effective date of the conversion.
MD. Financial Institutions Code Ann. §  6-305 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-305 - Execution and Contents of Articles of Incorporation and Agreement

    (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.
MD. Financial Institutions Code Ann. §  6-306 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-306 - Adoption and Contents of Bylaws

    (a)    The incorporators shall adopt bylaws for the credit union and shall sign and acknowledge two copies of them.    (b)    The bylaws of the credit union shall include:        (1)    The name and purpose of the credit union;        (2)    Provisions for annual and special meetings of members and the manner of notification for and conduct of the meetings;        (3)    The number of members that constitute a quorum and provisions that relate to voting;        (4)    A detailed description of the field of membership;        (5)    The qualifications for membership;        (6)    The number of directors on the board and their powers and duties;        (7)    The powers and duties of its credit committee, if any, and supervisory committee;        (8)    The powers and duties of its officers;        (9)    The number of and qualifications for directors emeriti, if any;        (10)    The par value of its shares and the conditions for issuance, payment, transfer, and withdrawal;        (11)    The conditions on which deposits may be received and withdrawn; and        (12)    Provisions for determining and paying dividends on shares and interest on deposits.
MD. Financial Institutions Code Ann. §  6-307 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-307 - Articles of Incorporation and Bylaws -- Filing for Examination and Approval

    (a)    The incorporators shall:        (1)    File with the Commissioner for examination three copies of the articles of incorporation and two copies of the bylaws; and        (2)    Pay to the Commissioner a fee of $500.    (b)    The Commissioner shall investigate and determine if:        (1)    The articles and bylaws are framed in accordance with law and are reasonable;        (2)    The character, responsibility, and general fitness of the incorporators command confidence and warrant belief that the business of the proposed credit union will be conducted honestly and efficiently, in accordance with the intent of this title; and        (3)    Allowing the proposed credit union to engage in business:            (i)    Will promote public convenience and advantage; and            (ii)    Is expedient and desirable.    (c)    After the investigation, the Commissioner may require any change in the articles of incorporation or bylaws that the Commissioner considers necessary.    (d)    (1)    Unless the Commissioner notifies the applicant that a different time period is necessary, within 120 days after the articles and bylaws are filed, the Commissioner shall sign, date, and endorse each copy of the articles and bylaws as “approved” or “refused”.        (2)    If formation of the credit union is refused, the Commissioner shall notify the incorporators in writing of the reason for the refusal.        (3)    If formation of the credit union is approved, the Commissioner shall:            (i)    Return to the incorporators two of the endorsed copies of the articles and one of the endorsed copies of the bylaws; and            (ii)    Keep one of the endorsed copies of the articles and the bylaws.
MD. Financial Institutions Code Ann. §  6-308 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-308 - Articles of Incorporation and Bylaws -- Filing for Record

    (a)    If the Commissioner approves the articles and bylaws, the incorporators shall file for record with the State Department of Assessments and Taxation one of the endorsed copies of the articles of incorporation.    (b)    When the articles of incorporation are filed for record in accordance with the provisions of subsection (a) of this section, the credit union becomes a corporation.
MD. Financial Institutions Code Ann. §  6-309 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part I - Formation|Section 6-309 - Articles of Incorporation

    (a)    When filing the articles of incorporation and bylaws with the Commissioner under § 6-307 of this subtitle, the incorporators shall file with the Commissioner an initial application on a form that the Commissioner requires.    (b)    The initial application shall include:        (1)    The field of membership type requested;        (2)    A detailed description of the field of membership;        (3)    A mission statement;        (4)    A detailed business plan that includes the items that the Commissioner reasonably requires; and        (5)    Any other information that the Commissioner reasonably requires.    (c)    (1)    In connection with an initial application and at any other time the Commissioner requests, each incorporator and director shall provide fingerprints for use by the Federal Bureau of Investigation and the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services to conduct criminal history records checks.        (2)    Any incorporator or director required by this subsection to provide fingerprints shall pay any processing or other fee required by the Federal Bureau of Investigation or the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services.        (3)    The fingerprinting and criminal history records check requirements shall apply to any other official or officer of the credit union as requested by the Commissioner.
MD. Financial Institutions Code Ann. §  6-312 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part II - Powers of a Credit Union|Section 6-312 - General Powers

    In addition to the powers set forth elsewhere in this title, a credit union may:         (1)    Receive the shares and deposits of its members;        (2)    Lend money to its members;        (3)    Invest funds as provided in this title; and        (4)    Undertake other activities that:            (i)    Are consistent with this title;            (ii)    Relate to its purposes; and            (iii)    Are authorized by its bylaws.
MD. Financial Institutions Code Ann. §  6-313 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part II - Powers of a Credit Union|Section 6-313 - Powers Authorized by Federal Law

    (a)    Notwithstanding any other provision of the laws or regulations of the State, on approval of the Commissioner, a credit union may engage in any additional activity, service, or other practice in which, under federal law or regulation, federal credit unions may engage.    (b)    The Commissioner may grant an approval under this section only if:        (1)    The Commissioner determines that approval:            (i)    Reasonably is required to protect the welfare of the general economy of the State and of credit unions; or            (ii)    Is not detrimental to the public interest or to credit unions; and        (2)    The approval imposes the same conditions that federal law or regulation requires or permits as to federal credit unions.
MD. Financial Institutions Code Ann. §  6-314 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part II - Powers of a Credit Union|Section 6-314 - Capital

    (a)    Without being required to take any action to perfect a lien, a credit union has a lien and a right to a setoff on the shares and deposits of a member in any individual, multiple party, or other type of account, including any dividends or interest payable on those shares or deposits, to the extent of any delinquency or default of the member on:        (1)    Any outstanding loan, whether or not matured, on which the member is liable to the credit union as maker, comaker, surety, or endorser; and        (2)    Any dues, charges, fees, fines, or other amount payable by the member.    (b)    If a member resigns or is expelled, the credit union may cancel that member’s shares and apply their withdrawal value against any amount owed to the credit union by the member.    (c)    A credit union may allow a withdrawal of a member’s shares or deposits without affecting the credit union’s lien or right to a setoff.    (d)    A credit union may refuse to allow a withdrawal of a member’s shares or deposits to the extent of any delinquency or default of the member to the credit union.
MD. Financial Institutions Code Ann. §  6-317 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part III - Members of a Credit Union|Section 6-317 - Meetings of Members; Voting

    (a)    (1)    The annual meeting of the members shall be held as provided by the bylaws and at the time and place that the board determines.        (2)    Special meetings of members shall be held:            (i)    On order of the directors or the supervisory committee; or            (ii)    At the request of 10 percent of the members.        (3)    Notice of each meeting shall be given as the bylaws provide.    (b)    (1)    Each member in good standing has one vote, notwithstanding the number of shares that the member holds.        (2)    A member may not vote by proxy. However, a member that is not an individual may be represented by an individual authorized in writing by the member to represent it.        (3)    A member may not vote or hold office if the member is less than 18 years of age.    (c)    (1)    At any meeting of the members, the members may:            (i)    Decide any question of interest to the credit union;            (ii)    Except for any instance where, in the judgment of the board, it would result in damage to the credit union’s financial soundness or would otherwise force the board to abrogate their fiduciary responsibility, overrule any decision of the board; and            (iii)    Amend the bylaws or articles of incorporation as provided in § 6-320 of this subtitle.        (2)    At the annual meeting of the members, the members shall elect directors, unless they are elected as provided in § 6-329 of this subtitle or as provided in the bylaws for mail balloting.
MD. Financial Institutions Code Ann. §  6-318 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part III - Members of a Credit Union|Section 6-318 - Voting by Mail Ballots

    (a)    The provisions of this section do not apply to:        (1)    An action authorized under § 6-329 or § 6-321 of this subtitle;        (2)    A voluntary dissolution under § 6-804 of this title; or        (3)    An authorization of compensation under § 6-331 of this subtitle.    (b)    The board of a credit union:        (1)    May authorize by resolution any question, proposal, or other matter requiring membership approval to be voted on by mail ballot; and        (2)    Shall establish a sequence of dates by which the voting procedures are initiated and completed.    (c)    The secretary of the credit union shall mail to each member in good standing who is eligible to vote:        (1)    A printed ballot;        (2)    An explanation of the question, proposal, or other matter to be voted on; and        (3)    A postage pre-paid and pre-addressed return envelope.    (d)    Unless otherwise provided in this title, the printed ballot shall be mailed to each member in good standing who is eligible to vote, not more than 30 days nor less than 7 days before the date set by the board for the filing of the mail ballot.    (e)    (1)    The question, proposal, or other matter is adopted only if approved by a majority of the ballots timely received from the members eligible to vote and in good standing and voting.        (2)    The credit union shall report the results of the mail ballot to the members.
MD. Financial Institutions Code Ann. §  6-319 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part III - Members of a Credit Union|Section 6-319 - Expulsion and Withdrawal of Members

    (a)    Subject to the applicable provisions of the bylaws, the board may expel any member of the credit union who:        (1)    Defaults on the payment of any monetary obligation to the credit union;        (2)    Is convicted of a criminal offense involving dishonesty or breach of trust;        (3)    Neglects or refuses to comply with the provisions of this title or of the bylaws of the credit union;        (4)    Habitually neglects to pay debts or becomes insolvent or bankrupt; or        (5)    Subject to the provisions of subsection (b) of this section, violates a written expulsion policy adopted by the board.    (b)    (1)    The board shall post conspicuously at each office of the credit union a notice of any expulsion policy adopted by the board.        (2)    A person expelled by the board may request a reconsideration of the expulsion.
MD. Financial Institutions Code Ann. §  6-321 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part III - Members of a Credit Union|Section 6-321 - Amendment of Bylaws or Articles of Incorporation -- Mail Ballot

    (a)    The board:        (1)    By resolution may authorize an amendment to the bylaws or articles of incorporation to be voted on by mail ballot; and        (2)    Shall establish a sequence of dates by which the voting procedures are initiated and completed.    (b)    The secretary of the credit union shall mail to each member in good standing:        (1)    A printed ballot;        (2)    A copy of any old bylaw or article of incorporation affected by the proposed amendment; and        (3)    A copy of the proposed bylaw or article of incorporation.    (c)    (1)    The amendment is adopted only if approved by two-thirds of the mail ballots timely received from the members in good standing and voting.        (2)    The credit union shall report the results of the mail ballot to the credit union members.
MD. Financial Institutions Code Ann. §  6-324 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-324 - Management of Credit Union

    The board shall have the authority and responsibility for the business affairs, funds, and records of a credit union.
MD. Financial Institutions Code Ann. §  6-325 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-325 - Directors -- Number, Qualifications, Tenure, and Oath

    (a)    Each credit union shall have at least five directors.    (b)    Each director:        (1)    Shall be a member of the credit union;        (2)    Shall be bonded;        (3)    May not have:            (i)    Defaulted on the payment of any monetary obligation to the credit union;            (ii)    Been convicted of any criminal offense involving dishonesty or breach of trust;            (iii)    Habitually neglected to pay debts;            (iv)    Become insolvent or bankrupt; or            (v)    Been removed by any state or federal regulatory agency from office as an officer, official, or employee of a financial institution; and        (4)    Shall comply with any other qualifications set forth in the credit union bylaws.    (c)    A director holds office for the term that the bylaws provide, which may not exceed 3 years, and until a successor is elected and qualifies.    (d)    Each director shall take an oath that the director:        (1)    Will diligently and honestly perform the duties as director in administering the credit union’s affairs;        (2)    Will remain responsible for the performance of the duties of the director even if the director delegates the performance of the duties; and        (3)    Will not knowingly or willfully permit the violation of an applicable law or regulation.    (e)    The chairman and, if any, vice chairman of the board shall be elected by and from the directors.
MD. Financial Institutions Code Ann. §  6-326 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-326 - Directors -- Vacancy or Removal; Filling Vacancy

    (a)    The office of a director becomes vacant if the director:        (1)    Dies;        (2)    Resigns; or        (3)    Is removed.    (b)    A director may be removed from office:        (1)    By the board, in accordance with the bylaws, if the director:            (i)    Does not possess or maintain the qualifications required to serve on the board; or            (ii)    Is absent from three consecutive regular meetings of the board unless excused; or        (2)    By the members.    (c)    (1)    Unless the bylaws provide otherwise, the remaining directors by majority vote shall fill a vacancy.        (2)    A director elected by the board to fill a vacancy holds office as the bylaws provide.
MD. Financial Institutions Code Ann. §  6-327 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-327 - Director Emeritus

    (a)    If the bylaws provide, a director emeritus may advise and consult with the board and aid the board in carrying out the board’s duties and responsibilities.    (b)    The bylaws shall provide for:        (1)    The number of directors emeriti; and        (2)    The qualifications for a director emeritus.    (c)    A director emeritus:        (1)    Shall be a member of the credit union; and        (2)    May not be an officer or an official.    (d)    A director emeritus may not:        (1)    Participate in any board or committee deliberations;        (2)    Make motions; or        (3)    Vote on any matter before the board.
MD. Financial Institutions Code Ann. §  6-330 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-330 - Officers

    (a)    Within 15 days after the annual meeting of the members and after the directors-elect have qualified, the board shall meet and elect the officers of the credit union.    (b)    Unless the bylaws provide otherwise:        (1)    Each officer serves for a term of 1 year and until a successor is elected and qualifies; and        (2)    The president shall be the chief executive officer who shall be responsible for the day to day operations of the credit union.    (c)    Subject to the provisions of an enforceable employment contract, if any, the board may remove an officer at any time.
MD. Financial Institutions Code Ann. §  6-332 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-332 - Suspension of Directors, Officers, and Credit Committee Members

    (a)    A board may call a special meeting of the members to act on a report or recommendation of the supervisory committee that concerns the suspension from office of a member of the credit committee, a director, or an officer.    (b)    The notice of the special meeting shall be given within 7 days after the board receives the report or recommendation.
MD. Financial Institutions Code Ann. §  6-333 (2021)
2021 Maryland Statutes|Financial Institutions|Title 6 - Credit Unions|Subtitle 3 - Formation, Organization, and Powers|Part IV - Officials and Officers|Section 6-333 - Education of Officials

    (a)    The board shall prepare a plan for educating each official as to the duties and responsibilities that accompany the official’s position.    (b)    The education plan may include requiring an official to:        (1)    Read materials;        (2)    Attend seminars, conferences, or workshops; or        (3)    Review films or tapes.    (c)    The preparation of and compliance with an education plan developed under this section may not be construed to limit the civil or criminal liability of an official arising from an act or omission by the official in the performance of any duty or responsibility of the official.