Maryland Financial Institutions Section 6-305

Article - Financial Institutions

§ 6-305.

      (a)      The incorporators shall sign and acknowledge three copies of articles of incorporation.

      (b)      The articles of incorporation shall include:

            (1)      The name and residential address of each incorporator;

            (2)      A statement that each incorporator is 18 years of age or older;

            (3)      A statement that the incorporators are associating to form a credit union under this title;

            (4)      The name of the credit union;

            (5)      The field of membership type as described in § 6-301 of this subtitle;

            (6)      The municipal area and county where the credit union is to be located;

            (7)      The parvalue of the shares of the credit union;

            (8)      The number of shares to which each incorporator subscribes;

            (9)      The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; and

            (10)      The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.



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