Md. Code, Financial Institutions § 6–806
Where this section sits in the code
- Article - Financial Institutions
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.
Collected 2026-09-14T19:58:27Z. Source file · JSON