HARRY HUGHES, Governor

1341

6-201.

(a.) [(1)] In this section [the following words have
the meanings indicated.

(2) "Organization"] "ORGANIZATION" means any
trade, profession, club, union, church congregation, parish,
society, or association, or any fraternal, cooperative, or
other organization.

[(3) "Rural community" means any well-defined
rural community with a population of less than 2,000
individuals.]

(b) [Seven or more adult individuals, each of whom is
a resident of this State and all of whom have a common
employer or are members of a common organization or rural
community, may act as incorporators to form a credit union
under this subtitle.] SEVEN OR MORE ADULT INDIVIDUALS MAY
ACT AS INCORPORATORS TO FORM A CREDIT UNION UNDER THIS
SUBTITLE IF EACH IS A RESIDENT OF THIS STATE AND:

(1) HAS A COMMON BOND OF SIMILAR OCCUPATION,
ORGANIZATION, PROFESSION, ASSOCIATION, OR INTERESTS;

(2) IS EMPLOYED WITHIN A DEFINED BUSINESS

(3) IS EMPLOYED WITHIN A DEFINED BUSINESS

DISTRICT, INDUSTRIAL PARK, OR SHOPPING CENTER.

(b) Seven or more adult individuals, each of whom is a
resident of this State and all of whom have [a common
employer or are members of a common organization or rural
community, may act as incorporators to form a credit union
under this subtitle.] ONE OF THE FOLLOWING COMMON BONDS,
MAY ACT AS INCORPORATORS TO FORM A CREDIT UNION UNDER THIS
SUBTITLE:

(1) SIMILAR OCCUPATIONS;

(2) MEMBERSHIP IN THE SAME OR SIMILAR
ORGANIZATIONS, PROFESSIONS, OR ASSOCIATIONS;

(3) EMPLOYMENT BY A COMMON EMPLOYER;

(4) EMPLOYMENT WITHIN A DEFINED BUSINESS
DISTRICT, INDUSTRIAL PARK, OR SHOPPING CENTER; OR

(5) RESIDENCE WITHIN AN IDENTIFIABLE
NEIGHBORHOOD, COMMUNITY, RURAL DISTRICT, OR COUNTY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.