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PARRIS N. GLENDENING, Governor
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Ch. 540
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CREDIT UNION SHARE GUARANTY BUSINESS MAY FILE A WRITTEN COMPLAINT WITH
THE COMMISSIONER WHO MAY INVESTIGATE THE COMPLAINT.
(2) THE COMMISSIONER MAY MAKE ANY OTHER INVESTIGATION OF ANY
PERSON IF THE COMMISSIONER HAS REASONABLE CAUSE TO BELIEVE THAT THE
PERSON HAS VIOLATED ANY PROVISION OF THIS SUBTITLE, ANY REGULATION
ADOPTED UNDER THIS SUBTITLE, OR ANY OTHER LAW REGULATING CREDIT UNION
SHARE GUARANTY CORPORATIONS IN THE STATE.
(C) IN CONNECTION WITH AN EXAMINATION OR INVESTIGATION MADE
UNDER THIS SECTION, THE COMMISSIONER MAY:
(1) EXAMINE THE BOOKS AND RECORDS OF ANY CREDIT UNION SHARE
GUARANTY CORPORATION OR OF ANY OTHER PERSON WHO THE COMMISSIONER
BELIEVES HAS VIOLATED ANY PROVISION OF THIS SUBTITLE, ANY REGULATION
ADOPTED UNDER THIS SUBTITLE, OR ANY OTHER LAW REGULATING CREDIT UNION
SHARE GUARANTY CORPORATIONS IN THE STATE;
(2) SUBPOENA DOCUMENTS OR OTHER EVIDENCE; OR
(3) SUMMON AND EXAMINE UNDER OATH ANY INDIVIDUAL WHOSE
TESTIMONY THE COMMISSIONER REQUIRES.
(D) IF ANY PERSON FAILS TO COMPLY WITH A SUBPOENA OR SUMMONS
ISSUED BY THE COMMISSIONER UNDER THIS SECTION, THE COMMISSIONER MAY
FILE A PETITION FOR ENFORCEMENT IN THE APPROPRIATE CIRCUIT COURT.
7-211.
(A) A CREDIT UNION SHARE GUARANTY CORPORATION SHALL PAY ALL
REASONABLE EXPENSES FOR TRANSPORTATION, LODGING, AND MEALS ASSOCIATED
WITH:
(1) AN EXAMINATION REQUIRED OR PERMITTED UNDER § 7-210 OF THIS
SUBTITLE; AND
(2) ANY OTHER EXAMINATION OR INVESTIGATION CONDUCTED UNDER
THIS ARTICLE THAT RESULTS IN THE DISCOVERY OF A VIOLATION OF THIS SUBTITLE
BY THE CREDIT UNION SHARE GUARANTY CORPORATION.
(B) (1) A CREDIT UNION SHARE GUARANTY CORPORATION SHALL PAY AN
ANNUAL ASSESSMENT OF $5,000.
(2) A CREDIT UNION SHARE GUARANTY CORPORATION SHALL PAY THE
ASSESSMENT IMPOSED UNDER PARAGRAPH (1) OF THIS SUBSECTION TO THE
COMMISSIONER ON OR BEFORE FEBRUARY 15 AFTER THE ASSESSMENT IS IMPOSED.
7-212.
(A) (1) ON OR BEFORE APRIL 1 OF EACH YEAR, UNLESS THE COMMISSIONER
EXTENDS THE TIME FOR GOOD CAUSE, EACH CREDIT UNION SHARE GUARANTY
CORPORATION SHALL FILE WITH THE COMMISSIONER AN ANNUAL REPORT FOR THE
IMMEDIATELY PRECEDING CALENDAR YEAR
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- 4105 -
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