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2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 6-904 - Improper loans


MD Fin Inst Code § 6-904 (2013) What's This?

§6-904.

(a) An officer or official who in any way knowingly permits or participates in making a loan in violation of § 6-611 of this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both, per occurrence.

(b) If a loan is made in violation of § 6-611 of this title, the credit union may recover the amount of the loan from:

(1) Any borrower; or

(2) Any officer or official who knowingly permitted or participated in making the loan.

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