S.B. 122                                                  VETOES

Senate Bill No. 122

AN ACT concerning

Credit Unions - Membership Voting - Mail Ballot

FOR the purpose of allowing the members of a credit union to vote by mail ballot in
certain circumstances; establishing procedures for membership voting by mail
ballot; specifying that certain provisions of law do not apply to the provisions of this
Act; requiring a printed ballot to be mailed within a certain number of days before
the filing of the mail ballot; and generally relating to voting by mail by the members
of credit unions.

BY adding to

Article - Financial Institutions

Section 6-211.1

Annotated Code of Maryland

(1992 Replacement Volume and 1994 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

6-211.1.

(A)     THE PROVISIONS OF THIS SECTION DO NOT APPLY TO:

(1) AN ACTION AUTHORIZED UNDER § 6-215 OR § 6-223 OF THIS
SUBTITLE;

(2) A VOLUNTARY DISSOLUTION UNDER § 6-703 OF THIS TITLE; OR

(3) A VOTE FOR WHICH THE BANK COMMISSIONER HAS WAIVED THE
REQUIREMENT FOR A MAIL BALLOT UNDER § 6-701(C), § 6-701(D), § 6-702(C), OR §
6-704(C) OF THIS TITLE.

(B) EXCEPT AS PROVIDED IN §§ 6-215 AND 6-223 OF THIS SUBTITLE, THE
BOARD OF DIRECTORS OF A CREDIT UNION:

(1)      MAY AUTHORIZE BY RESOLUTION ANY QUESTION, PROPOSAL, OR
OTHER MATTER REQUIRING MEMBERSHIP APPROVAL TO BE VOTED ON BY MAIL
BALLOT; AND

(2)     SHALL ESTABLISH A SEQUENCE OF DATES BY WHICH THE VOTING
PROCEDURES ARE INITIATED AND COMPLETED.

(B)     (C) THE SECRETARY OF THE CREDIT UNION SHALL MAIL TO EACH
MEMBER ELIGIBLE TO VOTE:

(1) A PRINTED BALLOT; AND

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