Md. Code, Financial Institutions § 6-806

Md. Code, Financial Institutions § 6-806
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi&section=6-806&enactments=falseFetched: 10/17/2026

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