Maryland Financial Institutions Section 7-211

Article - Financial Institutions

§ 7-211.

      (a)      A credit union share guaranty corporation shall pay all reasonable expenses for transportation, lodging, and meals associated with:

            (1)      An examination required or permitted under § 7-210 of this subtitle; and

            (2)      Any other examination or investigation conducted under this article that results in the discovery of a violation of this subtitle by the credit union share guaranty corporation.

      (b)      (1)      A credit union share guaranty corporation shall pay an annual assessment of $5,000.

            (2)      A credit union share guaranty corporation shall pay the assessment imposed under paragraph (1) of this subsection to the Commissioner on or before February 15 after the assessment is imposed.



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