§ 6–305
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 6-305 (2026)
Title 6. Credit Unions
Subtitle 3. Formation, Organization, and Powers
§ 6–305LinkCopy Citation
(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.