2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 6-313 - Powers authorized by federal law
§6-313.
(a) Notwithstanding any other provision of the laws or regulations of the State, on approval of the Commissioner, a credit union may engage in any additional activity, service, or other practice in which, under federal law or regulation, federal credit unions may engage.
(b) The Commissioner may grant an approval under this section only if:
(1) The Commissioner determines that approval:
(i) Reasonably is required to protect the welfare of the general economy of the State and of credit unions; or
(ii) Is not detrimental to the public interest or to credit unions; and
(2) The approval imposes the same conditions that federal law or regulation requires or permits as to federal credit unions.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
