1848

LAWS OF MARYLAND

[Ch. 311

REVISOR'S NOTE: This section presently appears as
Art. 11, §145(f).

The only changes are in style.

6-322. REMOVAL OF DIRECTORS, OFFICERS, AND CREDIT
COMMITTEE MEMBERS; EXPULSION AND WITHDRAWAL OF MEMBERS.

(A)    REMOVAL OF DIRECTORS, OFFICERS, AND CREDIT
COMMITTEE MEMBERS.

(1)   WITH THE APPROVAL OF THE COMMISSIONER,
THE BOARD OF DIRECTORS OF A CREDIT UNION MAY NOTIFY ITS
MEMBERS OF A SPECIAL MEETING TO ACT ON A REPORT OR
RECOMMENDATION OF THE SUPERVISORY COMMITTEE CONCERNING
THE SUSPENSION OF A MEMBER OF THE CREDIT COMMITTEE, A
DIRECTOR, OR AN OFFICER.

(2)    THE NOTICE SHALL BE GIVEN WITHIN SEVEN
DAYS OF RECEIPT BY THE BOARD OF THE REPORT OR
RECOMMENDATION.

(B)   EXPULSION AND WITHDRAWAL OF MEMBERS.

(1) SUBJECT TO THE APPLICABLE PROVISIONS OF
THE BYLAWS, THE BOARD OF DIRECTORS MAY EXPEL ANY MEMBER
OF THE CREDIT UNION WHO:

(1)    HAS NOT CARRIED OUT HIS ENGAGEMENTS WITH
THE CREDIT UNION;

(II)    HAS BEEN CONVICTED OF A CRIMINAL

OFFENSE;

(III)    NEGLECTS OR REFUSES TO COMPLY WITH THE
PROVISIONS OF THIS SUBTITLE, SUBTITLE "CREDIT UNIONS" OF
ARTICLE 11 OF THE CODE, OR THE BYLAWS OF THE CREDIT
UNION; OR

(IV)   HABITUALLY NEGLECTS TO PAY HIS DEBTS OR
BECOMES INSOLVENT OR BANKRUPT.

(2)   A MEMBER MAY WITHDRAW FROM A CREDIT UNION
OR A NON-MEMBER MAY WITHDRAW DEPOSITS IN THE MANNER
PROVIDED BY THE BYLAWS.

REVISOR'S NOTE: This section presently appears as
the first sentence of Art. 11, § 145(b), and
Art. 11, §156.

The only changes are in style.

6-323. UNSAFE AND UNAUTHORIZED ACTIVITIES,