SPIRO T. AGNEW, Governor                        1195

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 143 of Article 11 of the Annotated Code of Maryland
(1957 Edition), title "Banks and Trust Companies," subtitle "Credit
Unions," be and it is hereby repealed and re-enacted, with amend-
ments, to read as follows:

143.

The fiscal year of every credit union shall end at the close of busi-
ness on December thirty-first. The annual meeting shall be held at
such time in January, February or March as the bylaws may pro-
vide. Special meetings may be held by order of the directors or of
the supervisory committee or at the request of ten per cent of the
members. Notice of all meetings shall be given in the manner pro-
vided in the bylaws. A member shall have but one vote, irrespective
of the shares held. No shareholder may vote by proxy but a society,
association, copartnership or corporation having membership in the
credit union, may be represented by one person authorized by said
society, association, copartnership or corporation to represent it.
At any meeting the members may decide upon any question of in-
terest to the corporation, and overrule the board of directors, and
by a three-fourths vote of those present and represented, provided
the notice of the meeting shall have specified the question to be con-
sidered, may vote to amend the bylaws.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 21, 1967.

CHAPTER 565
(Senate Bill 693)

AN ACT to add new Section 145(d) to Article 11 of the Annotated
Code of Maryland (1957 Edition), title "Banks and Trust Com-
panies," subtitle "Credit Unions," to follow immediately after
Section 145 (c) thereof to authorize credit unions to appoint
membership officers and to fix the powers and duties of such
officers.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 145(d) be and it is hereby added to Article 11
of the Annotated Code of Maryland (1957 Edition), title "Banks
and Trust Companies," subtitle "Credit Unions," to follow immedi-
ately after Section 145 (c) thereof and to read as follows:

145.

(d) The Board of Directors may appoint a membership officer
from among the members of the credit union, other than treasurer,
assistant treasurer or a loan officer. Such membership officer may
be authorized by the Board of Directors to approve applications for
membership under such conditions as the Board may prescribe;
except that such membership officer so authorized shall submit to