# Financial Institutions (GFI)

## Title 6. Credit Unions

### Subtitle 9. Prohibited Activities; Penalties

#### Section 6-901

(a)

  (1) Except for a credit union or an out-of-state credit union authorized to do business in this State, a person may not:

    (i) Use or advertise any name or title that contains the words "credit union" or any derivation of that term;

    (ii) Represent itself as a credit union;

    (iii) Conduct business as a credit union; or

    (iv) Conduct business under a name or title that:

      (1) Indicates or reasonably implies that the person engages in or transacts the type of business conducted by a credit union; or

      (2) Is calculated to lead a person to believe that the business engaged in or transacted is the type of business conducted by a credit union.

  (2) Any person who violates any provision of this subsection is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both per occurrence.

(b) This section does not apply to an association or league of credit unions, whether or not the association or league is incorporated.

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