§ 6–806
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 6-806 (2026)
Title 6. Credit Unions
Subtitle 8. Extraordinary Actions
§ 6–806LinkCopy Citation
With the approval of the Commissioner, a credit union may purchase the assets or assume the liabilities of another credit union whether or not the credit unions have the same field of membership type, if:
(1)
The other credit union is insolvent or likely to become insolvent;
(2)
The purchase or assumption is in the best interest of the membership of the other credit union; and
(3)
The purchase or assumption will not adversely affect the financial condition of the credit union that makes the purchase or assumption.