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Code · Maryland · Financial Institutions

§ 6-305

175 words·~1 min read·/md/financial-institutions/6-305

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§6–305.
(a)The incorporators shall sign and acknowledge three copies of articles of incorporation.
(b)The articles of incorporation shall include:
(1)The name and residential address of each incorporator;
(2)A statement that each incorporator is 18 years of age or older;
(3)A statement that the incorporators are associating to form a credit union under this title;
(4)The name of the credit union;
(5)The field of membership type as described in § 6-301 of this subtitle;
(6)The municipal area and county where the credit union is to be located;
(7)The par value of the shares of the credit union;
(8)The number of shares to which each incorporator subscribes;
(9)The name and address in the State of the resident agent of the credit union for purposes of service of process in accordance with the Maryland General Corporation Law; and
(10)The number of directors and the names and residential addresses of the individuals who will serve as directors on the board until their successors are elected and qualify.
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