{"data":{"id":"us-md/md.-code-financial-institutions-6-306","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 6–306","heading":"","body":"(a) The incorporators shall adopt bylaws for the credit union and shall sign and acknowledge two copies of them.\n(b) The bylaws of the credit union shall include:\n(1) The name and purpose of the credit union;\n(2) Provisions for annual and special meetings of members and the manner of notification for and conduct of the meetings;\n(3) The number of members that constitute a quorum and provisions that relate to voting;\n(4) A detailed description of the field of membership;\n(5) The qualifications for membership;\n(6) The number of directors on the board and their powers and duties;\n(7) The powers and duties of its credit committee, if any, and supervisory committee;\n(8) The powers and duties of its officers;\n(9) The number of and qualifications for directors emeriti, if any;\n(10) The par value of its shares and the conditions for issuance, payment, transfer, and withdrawal;\n(11) The conditions on which deposits may be received and withdrawn; and\n(12) Provisions for determining and paying dividends on shares and interest on deposits.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=6-306","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"95d6fa5650810277ce8871c5bea21e8ceb0c002ee3e4138ea0df7c526ca6bdd9","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-6-305","next":"us-md/md.-code-financial-institutions-6-307"},"notice":"GroundRules: Original legal text. Not legal advice."}