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Maryland Code, Financial Institutions § 6-904

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) An officer or official who in any way knowingly permits or participates in making a loan in violation of § 6-611 of this title 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) If a loan is made in violation of § 6-611 of this title, the credit union may recover the amount of the loan from:

(1) Any borrower; or

(2) Any officer or official who knowingly permitted or participated in making the loan.

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Cite this article: FindLaw.com - Maryland Code, Financial Institutions § 6-904 - last updated January 01, 2025 | https://codes.findlaw.com/md/financial-institutions/md-code-fin-inst-sect-6-904/

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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