1374                                      LAWS OF MARYLAND                                Ch. 658

AUTHORIZED TO ACT BY THAT ASSOCIATION. A DELEGATE MAY
NOT VOTE ON BEHALF OF MORE THAN ONE MEMBER
ASSOCIATION. A MAJORITY OF THE VOTES SO CAST SHALL ELECT
DIRECTORS OR DETERMINE ANY QUESTION PUT TO A VOTE.

(G) THE DIRECTORS OF THE CORPORATION MAY RECEIVE
REASONABLE COMPENSATION AS DETERMINED BY THE BOARD OF
DIRECTORS WITH APPROVAL OF THE BANK COMMISSIONER.

(H) THE DIRECTORS OF THE CORPORATION SHALL FIX THE
AMOUNT OF THE SURETY BONDS OF THE OFFICERS AND
EMPLOYEES OF THE CORPORATION, CONDITIONED UPON THE
FAITHFUL PERFORMANCE OF THEIR DUTIES, AS PROVIDED IN THE
BYLAWS OF THE CORPORATION.

454.

THE MEMBERSHIP OF THE CORPORATION CONSISTS OF THOSE
ASSOCIATIONS THE FINANCIAL AFFAIRS, SOLVENCY,
MANAGEMENT, AND DIRECTORSHIP OF WHICH HAVE BEEN
CERTIFIED TO THE CORPORATION, AS APPROVED FOR INSURANCE
OF CREDIT ACCOUNTS, BY THE SUPERVISOR, AND WHICH HAVE
THEREUPON FILED AN APPLICATION FOR MEMBERSHIP ACCEPTED
BY THE BOARD OF DIRECTORS, WHICH ACCEPTANCE SHALL NOT
BE DENIED EXCEPT FOR GOOD CAUSE SHOWN. EVERY CREDIT
UNION ASSOCIATION OF THIS STATE AS DEFINED IN SECTION 461
[[MAY]] SHALL BECOME A MEMBER OF THE CORPORATION AND
INVEST IN AND PAY ASSESSMENTS, PREMIUMS, AND OTHER
CHARGES AS REQUIRED FOR PARTICIPATION IN THE [[norporation]]
CORPORATION. MEMBERSHIP IN THE CORPORATION IS FOR THE
LIFE OF THE CORPORATION, SUBJECT TO THE BYLAWS, RULES,
AND REGULATIONS OF THE CORPORATION. [[A MEMBER MAY
WITHDRAW FROM THE CORPORATION UPON WRITTEN NOTICE
GIVEN ONE YEAR IN ADVANCE OF THE INTENDED DATE OF
WITHDRAWAL AND UPON COMPLYING WITH THE BYLAWS, RULES,
AND REGULATIONS OF THE CORPORATION.]]

455.

NO PROVISION OF LAW MAY BE CONSTRUED AND APPLIED TO
PREVENT A PROPER EXCHANGE OF INFORMATION RELATING TO
ASSOCIATIONS AND THEIR BUSINESS BETWEEN THE SUPERVISOR
AND REPRESENTATIVES OF THE MARYLAND CREDIT UNION
INSURANCE CORPORATION.

456.

UNDER NO CIRCUMSTANCES IS THE FAITH OR CREDIT OF THE
STATE OF MARYLAND PLEDGED HEREIN.

457.

PROMPTLY UPON ITS APPOINTMENT, AND BEFORE THE
ACCEPTANCE OF THE MEMBERSHIP OF ANY ASSOCIATIONS THE
TEMPORARY BOARD OF DIRECTORS SHALL PROMULGATE
BYLAWS, RULES, AND REGULATIONS AS NECESSARY AND PROPER
TO CARRY OUT THE PROVISION HEREOF AND AS NOT
INCONSISTENT HEREWITH. THEREAFTER, THE BYLAWS, RULES,
AND REGULATIONS SO ADOPTED MAY BE AMENDED OR REVOKED,