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Session Laws, 2002
Volume 800, Page 4886   View pdf image
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S.B. 776
VETOES
(VI) COOPERATING AND ASSISTING CREDIT UNIONS AND LOCAL
AND NATIONAL ORGANIZATIONS AND CREDIT UNIONS TO IMPROVE THE GENERAL
WELFARE OF THE PEOPLE THROUGH CREDIT UNIONS; (VII) PROVIDING SCHOLARSHIPS AND AWARDS TO PROFESSIONALS
AND VOLUNTEERS IN THE CREDIT UNION MOVEMENT; AND (VIII) FURTHERING THE CREDIT UNION MOVEMENT AND
PERFORMING ALL NECESSARY AND PROPERLY RELATED SERVICES AND ACTIVITIES. (F) (E) (F) THE CORPORATION SHALL PROMPTLY NOTIFY THE
COMMISSIONER FOLLOWING THE COMPLETION OF THE LIQUIDATION AND THE
WINDING UP OF THE BUSINESS AND AFFAIRS OF THE CORPORATION. 7-121. THE COMMISSIONER MAY REQUIRE THE CORPORATION TO PROVIDE ANY
INFORMATION THAT THE COMMISSIONER DEEMS NECESSARY TO DETERMINE
WHETHER THE PHASE-OUT AND DISSOLUTION OF THE CORPORATION ARE IN
ACCORDANCE WITH THE PROVISIONS OF THIS PART. SUBTITLE 2. CREDIT UNION SHARE GUARANTY CORPORATIONS. 7-201. (A) IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED. (B) UNLESS THE CONTEXT REQUIRES OTHERWISE, "CREDIT UNION" HAS THE
MEANING STATED IN § 6-101(D) OF THIS ARTICLE. (C) "CREDIT UNION SHARE GUARANTY CORPORATION" MEANS A
CORPORATION THAT IS: (1) ENGAGED IN THE BUSINESS OF PROVIDING PRIMARY SHARE
GUARANTY INSURANCE FOR THE SHARE AND DEPOSIT ACCOUNTS OF A CREDIT
UNION; AND (2) REGULATED UNDER THIS SUBTITLE. (D) "PARTICIPATING CREDIT UNION" MEANS A CREDIT UNION THAT HAS
APPLIED FOR AND BEEN ADMITTED TO PARTICIPATION IN A CREDIT UNION SHARE
GUARANTY CORPORATION AND WHOSE PARTICIPATION HAS NOT TERMINATED. 7-202. THE PROVISIONS OF THIS SUBTITLE DO NOT APPLY TO THE CREDIT UNION
INSURANCE CORPORATION ESTABLISHED UNDER SUBTITLE 1 OF THIS TITLE. 7-203. (A) A PERSON MAY NOT CONDUCT BUSINESS AS A CREDIT UNION SHARE
GUARANTY CORPORATION UNLESS THE PERSON HAS A CERTIFICATE OF AUTHORITY
ISSUED BY THE COMMISSIONER UNDER THIS SUBTITLE.
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Session Laws, 2002
Volume 800, Page 4886   View pdf image
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