|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PARRIS N. GLENDENING, Governor Ch, 540
|
|
|
|
|
|
|
|
|
|
(2) All debts, claims, obligations, and liabilities of the Corporation,
whenever incurred, shall be the debts, claims, obligations, and liabilities of the
Corporation only and not of the State, its agencies, instrumentalities, officers, or
employees.
(3) The Corporation moneys may not be considered part of the General
Fund of the State.
(4) The debts, claims, obligations, and liabilities of the Corporation may
not be considered to be a debt of the State or a pledge of its credit.
7-103.
The purposes of the Corporation are to:
(1) Insure and guarantee the share and deposit accounts of member
credit unions;
(2) Improve and stimulate the ability of credit unions to provide low-cost
consumer loans;
(3) Promote the elasticity and flexibility of the resources of credit unions;
(4) Make loans for liquidity purposes to credit unions;
(5) Discount notes of credit unions;
(6) Provide a State service of lending among credit unions;
(7) Help rehabilitate and stabilize credit unions;
(8) Help liquidate credit unions in an orderly manner when necessary;
(9) Help strengthen and develop credit unions serving low-income
individuals; and
(10) Cooperate with and assist credit unions, organizations of credit
unions, the Commissioner, the National Credit Union Administration, [the Central
Credit Union of Maryland,] and others in improving the general welfare of the people
through credit unions.
7-104.
(a) The Corporation exercises its powers and performs its duties subject to the
authority of the Commissioner.
(b) Except as otherwise provided in this [title] SUBTITLE, the Corporation has
all of the powers, privileges, and immunities granted to Maryland corporations under
the Maryland General Corporation Law.
(c) [The] SUBJECT TO THE PROVISIONS OF PART III OF THIS SUBTITLE, THE
Corporation has perpetual existence.
(d) The Corporation may:
|
|
|
|
|
|
|
|
|
|
- 4091 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
