{"data":{"id":"us-md/md.-code-financial-institutions-6-708","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 6–708","heading":"","body":"(a) (1) Subject to the provisions of paragraph (2) of this subsection, a credit union may borrow money for the purchase of fixed assets.\n(2) The term of the loan may not exceed:\n(i) 15 years for borrowings secured by real or leasehold property; and\n(ii) 5 years for borrowings secured by other fixed assets.\n(b) A credit union may borrow money for a purpose other than the purchase of fixed assets as long as the total borrowing does not exceed the greater of:\n(1) Two times the net worth of the borrowing credit union; or\n(2) 10% of the total assets of the borrowing credit union.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=6-708","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"a7352db44c6b9f4e133c578eb0ea71c8d52fa36b23d6457f4284049ab8b0418e","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-6-707","next":"us-md/md.-code-financial-institutions-6-709"},"notice":"GroundRules: Original legal text. Not legal advice."}