(a) A credit union may establish a branch in the State in accordance with the provisions of this section. (b) (1) A credit union that proposes to establish a branch in the State shall: (i) File with the Commissioner, at least 30 days before the intended opening date, a notice of intention to open a branch; (ii) Submit to the Commissioner any information the Commissioner requires in order to evaluate the proposed branch; and (iii) Pay to the Commissioner a branch fee of $100. (2) The branch fee may not apply to a branch that is acquired by a credit union through a merger or consolidation with, or transfer to the credit union of all or substantially all of the assets of, a credit union. (c) In deciding whether to approve the establishment of a branch, the Commissioner shall consider whether: (1) The establishment of the branch will promote the convenience of the members of the credit union; (2) The applicant has sufficient net worth to support the branch; and (3) The applicant generally is operating in compliance with the provisions of this title. (d) (1) The Commissioner shall decide whether to approve the establishment of a branch within 30 days of receipt of the notice specified in subsection (b)(1) of this section. (2) The establishment of a branch shall be deemed approved if the Commissioner takes no action on the notice within the time limit specified in this subsection.
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