PARRIS N. GLENDENING, Governor                             Ch. 326

(3) A copy of the report shall be sent by certified mail, return receipt
requested, bearing a postmark from the United States Postal Service, to each director of
the credit union.

(b)     If the [Bank] Commissioner finds that the unsafe or unsound practice
continues after the warning and the officer, director, or committee member was provided
an opportunity to be heard, the [ Bank] Commissioner may remove the officer, director,
or committee member with the approval of the Secretary of Labor, Licensing, and
Regulation.

(c)     A copy of the removal order shall be served on the individual removed and the
credit union.

6-307.3.

(a)     If the [Bank] Commissioner believes that any director, officer, committee
member, agent, or employee has violated any provision of this title, the [Bank]
Commissioner immediately shall report the violation directly to the Secretary of Labor,
Licensing, and Regulation and to the Attorney General who shall take the appropriate
steps to institute a prosecution for the violation.

(b)     (1) The [Bank] Commissioner shall send a written warning to a director,
officer, committee member, agent, or employee of a credit union who the [Bank]
Commissioner believes has violated any provision of this title.

(2)     If after a warning the violation continues, the director, officer,
committee member, agent, or employee may be removed under § 6-307 of this title.

(3)     Unless otherwise specified, any director, officer, committee member,
agent, or employee of a credit union who violates the provisions of this title is guilty of a
misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment
not exceeding 5 years.

6-308.

As to any credit union that is insured under the Federal Credit Union Act, the
[Bank] Commissioner:

(1)     Shall give the National Credit Union Administration and any official or
examiner of that Administration access to all of the information that the [Bank]
Commissioner has as to the condition or affairs of the insured credit union; and

(2)     May give to the National Credit Union Administration and any official
or examiner of that Administration a copy of any examination made of or report made by
the insured credit union.

6-505.

(a)     A loan by a credit union to a member shall be secured as required by the
credit union, subject to the provisions of this section.

(b)     (1) A credit union may make a loan of $400 or less to a member without
security.

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