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2021 Maryland Statutes
Financial Institutions
Title 7 - Credit Union Share Insurance
Subtitle 2 - Credit Union Share Guaranty Corporations
Section 7-207 - Certificate of Authority -- Approval
Universal Citation:
MD Financial Institutions Code Ann. § 7-207 (2021)
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(a) When an applicant for a certificate of authority files the application and pays the application fee required under § 7-206 of this subtitle, the Commissioner shall conduct an investigation to determine if the applicant meets the requirements of § 7-205 of this subtitle.
(b) Unless the Commissioner notifies the applicant that a different time period is necessary, the Commissioner shall approve or deny each application for a certificate of authority within 120 days after the complete application is filed and the application fee is paid.
(c) The Commissioner shall issue a certificate of authority to any applicant who meets the requirements of this subtitle.
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