# Financial Institutions (GFI)

## Title 6. Credit Unions

### Subtitle 3. Formation, Organization, and Powers

#### Section 6-305

(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 Sec. 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.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)