Maryland Financial Institutions Section 6-909

Article - Financial Institutions

§ 6-909.

      (a)      Except as otherwise provided in this article, the Commissioner and the employees of and the attorney for the Commissioner's office may not disclose:

            (1)      The name of any debtor of a credit union;

            (2)      Any information about the private accounts with or transactions of a credit union;

            (3)      Any information obtained in the course of examining a credit union; or

            (4)      Any confidential information obtained from a credit union authority.

      (b)      This section does not apply to any information that a person discloses:

            (1)      In performing a public duty to report on or take special action about the business of a credit union;

            (2)      In testifying as a witness in a criminal proceeding; or

            (3)      In informing any official, officer, employee, or agent of a credit union under examination of the results of that examination.

      (c)      (1)      The Commissioner may give a credit union share guaranty corporation information about a credit union if:

                  (i)      The credit union is insured by the credit union share guaranty corporation; or

                  (ii)      The credit union:

                        1.      Is applying for insurance from the credit union share guaranty corporation; and

                        2.      Requests the Commissioner to provide the information.

            (2)      The Commissioner may give the National Credit Union Administration Share Insurance Program information about a credit union if:

                  (i)      The credit union is insured by the National Credit Union Administration Share Insurance Program; or

                  (ii)      The credit union:

                        1.      Is applying for insurance from the National Credit Union Administration Share Insurance Program; and

                        2.      Requests the Commissioner to provide the information.

      (d)      Except as otherwise provided by law, all confidential information disclosed to any person as permitted under this section:

            (1)      Remains the property of the Commissioner; and

            (2)      May not be further disclosed by that person without the written permission of the Commissioner.

      (e)      A person that violates any provision of this section is guilty of a misdemeanor and on conviction is subject to:

            (1)      Forfeiture of the person's office or employment; and

            (2)      A fine not exceeding $1,000 or imprisonment not exceeding 2 years or both.



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