1838

LAWS OF MARYLAND

[Ch. 311

(G) COMMISSIONED SUBSCRIPTION PROHIBITED.

A CREDIT UNION MAY NOT PAY ANY COMMISSION OR OTHER
COMPENSATION FOR OBTAINING MEMBERS OR SELLING ITS SHARES.

REVISOR'S NOTE: This section presently appears as
Art. 11, §§ 148 and 149 and the last clause of
§140.

The only changes are in style.

6-309. MEMBERSHIP.

THE MEMBERS OF A CREDIT UNION SHALL INCLUDE EVERY:

(1)   INCORPORATOR; AND

(2)   INDIVIDUAL WHO:

(I) IS ELECTED TO MEMBERSHIP;

(II) SUBSCRIBES TO AND PAYS IF WHOLE OR PART
FOR AT LEAST ONE SHARE;

(III) PAYS IN WHOLE OR PART ANY ENTRANCE FEE;
AND

(IV)   COMPLIES WITH EVERY OTHER REQUIREMENT OF
THE BYLAWS.

REVISOR'S NOTE: This section presently appears as
Art. 11, §140, except for the last clause of
that section which is included in §6—308(g).

The only changes are in style.

6-310. MEETINGS.

(A)   TIME AND NOTICE OF MEETINGS.

(1)   THE ANNUAL MEETING OF MEMBERS OF A CREDIT
UNION SHALL BE HELD AT THE TIME IN JANUARY, FEBRUARY, OR
MARCH WHICH THE BYLAWS PROVIDE.

(2)    SPECIAL MEETINGS OF MEMBERS MAY BE HELD
BY ORDER OF THE DIRECTORS OR SUPERVISORY COMMITTEE OR AT
THE REQUEST OF 10 PERCENT OF THE MEMBERS.

(3)    NOTICE OF EACH MEETING SHALL BE GIVEN AS
THE BYLAWS PROVIDE.

(B)   VOTING.

(1) A MEMBER HAS ONE VOTE, NOTWITHSTANDING