942 LAWS OF MARYLAND. [CH. 337

other activities relating to the purposes of the corporation as
may be consistent with this Act and authorized by the by-laws.

SEC. 6. The membership of the corporation shall consist of
the incorporators and such persons as have been duly elected to
membership and have subscribed for one or more shares and
have paid for the same in whole or in part, together with the
entrance fees as provided by the by-laws, and have complied
with such other requirements as the by-laws contain; no credit
union shall pay any commission or offer compensation for the
securing of members or the sale of shares.

SEC. 7. Credit unions shall be subject to the supervision
of the Bank Commissioner and shall be examined at least
annually by him or one of his deputies. The Bank Commis-
sioner may order such additional examinations as he may
deem to be necessary. In January of each year each credit
union shall make a report to the Bank Commissioner of the
business of the preceding calendar year in such detail as
the Bank Commissioner may require on blank forms sup-
plied by him for the purpose. He may require such further
reports from time to time as he may deem necessary. All
reports shall be signed, and acknowledged by the president,
treasurer and a majority of the members of the supervisory
committee.

For failure to file a report when due a Credit union shall
forfeit to the State five dollars for each day such neglect con-
tinues and if it continues for more than fifteen days, the said
Bank Commissioner may revoke the certificate of approval
of said corporation and said corporation shall thereupon dis-
continue doing business until such time as it may be per-
mitted to continue to do business by a re-issuance of the
certificate of approval by the Bank Commissioner. If the
Bank Commissioner, upon examination, finds that the credit
union is insolvent or that it has violated any of the provi-
sions of this Act or that, in his judgment any of its prac-
tices are unsafe, he may by an order made over his hand
and official seal, order said credit union to discontinue said
illegal or unsafe practices, after a hearing or any opportunity
for a hearing has been afforded said credit union. If said
credit union fails to comply with said order within sixty
days the Bank Commissioner may take possession of the busi-
ness and property of said credit union and retain such pos-
session until such time as he may permit it to resume busi-