# Financial Institutions (GFI)

## Title 7. Credit Union Share Insurance

### Subtitle 2. Credit Union Share Guaranty Corporations

#### Section 7-223

A credit union share guaranty corporation that is a nonprofit corporation exempt from federal taxation under Sec. 501(c)(6) of the Internal Revenue Code is exempt from all taxes imposed by the State or any of its subdivisions under:

(1) Sec.Sec. 20-101, 20-104, 20-108, 20-113 through 20-127, 20-601, 20-603 through 20-609, 20-805, and 20-806, and Title 20, Subtitles 3 through 5 of the Local Government Article;

(2) Title 6, Subtitle 1 of the Insurance Article;

(3) The Tax - General Article; or

(4) The Tax - Property Article.

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