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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The incorporators shall sign and acknowledge three copies of articles of incorporation.
(b) The articles of incorporation shall include:
(1) The name and residential address of each incorporator;
(2) A statement that each incorporator is 18 years of age or older;
(3) A statement that the incorporators are associating to form a credit union under this title;
(4) The name of the credit union;
(5) The field of membership type as described in § 6-301 of this subtitle;
(6) The municipal area and county where the credit union is to be located;
(7) The par value of the shares of the credit union;
(8) The number of shares to which each incorporator subscribes;
(9) The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; 1 and
(10) The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.
Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 6-305 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-6-305/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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