Maryland Financial Institutions Section 6-306

      (a)      The incorporators shall adopt bylaws for the credit union and shall sign and acknowledge two copies of them.

      (b)      The bylaws of the credit union shall include:

            (1)      The name and purpose of the credit union;

            (2)      Provisions for annual and special meetings of members and the manner of notification for and conduct of the meetings;

            (3)      The number of members that constitute a quorum and provisions that relate to voting;

            (4)      A detailed description of the field of membership;

            (5)      The qualifications for membership;

            (6)      The number of directors on the board and their powers and duties;

            (7)      The powers and duties of its credit committee, if any, and supervisory committee;

            (8)      The powers and duties of its officers;

            (9)      The number of and qualifications for directors emeriti, if any;

            (10)      The parvalue of its shares and the conditions for issuance, payment, transfer, and withdrawal;

            (11)      The conditions on which deposits may be received and withdrawn; and

            (12)      Provisions for determining and paying dividends on shares and interest on deposits.