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LAWS OF MARYLAND

Ch. 33

The only changes are in style.
7-104. GENERAL POWERS AND DUTIES.

(A)       AUTHORITY OF BANK COMMISSIONER.

THE CORPORATION EXERCISES ITS POWERS AND PERFORMS ITS
DUTIES SUBJECT TO THE AUTHORITY OF THE BANK COMMISSIONER.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the introductory
clause of Art. 23, § 452(b) and is revised to
conform to similar provisions elsewhere in this
article.

(B)        GENERAL CORPORATE POWERS.

EXCEPT AS OTHERWISE PROVIDED IN THIS TITLE, THE

CORPORATION HAS ALL OF THE POWERS, PRIVILEGES, AND

IMMUNITIES GRANTED TO MARYLAND CORPORATIONS UNDER THE
MARYLAND GENERAL CORPORATION LAW.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the second
sentence of Art. 23, § 451 and from Art. 23, §
452(b)(7).

The Maryland General Corporation Law is contained
in Titles 1 through 3 of the Corporations and
Associations Article. See CA § 1—103.

(C)   PERPETUAL EXISTENCE.

THE CORPORATION HAS PERPETUAL EXISTENCE.

REVISOR'S NOTE: This subsection presently appears as
Art. 23, § 460.

The only changes are in style.

(D)       FINANCIAL ASSISTANCE.
THE CORPORATION MAY:

(1)       LEND MONEY TO ANY CREDIT UNION;

(2)       GUARANTEE, ENDORSE, OR ACT AS SURETY ON THE
OBLIGATIONS OF OR OTHERWISE ASSIST FINANCIALLY ANY CREDIT
UNION; AND

(3)       ESTABLISH AND REGULATE THE TERMS AND
CONDITIONS OF AND CHARGES FOR ANY LOANS OR FINANCIAL
ASSISTANCE TO CREDIT UNIONS.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 23, §