# Financial Institutions (GFI)

## Title 7. Credit Union Share Insurance

### Subtitle 1. Credit Union Insurance Corporation

#### Section 7-119

(a) A credit union that is a member of the Corporation shall obtain primary share guaranty insurance with:

  (1) The National Credit Union Administration Share Insurance Program; or

  (2) A credit union share guaranty corporation regulated under Subtitle 2 of this title that is approved by the Commissioner to provide primary share guaranty insurance at least to the same extent and amount as provided by the National Credit Union Administration Share Insurance Program.

(b) A credit union that is a member of the Corporation shall comply with the provisions of subsection (a) of this section within 2 years after the date that the Commissioner issues the first certificate of authority under Sec. 7-203 of this title.

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