§ 6-901
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/md/financial-institutions/6-901A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§6–901.
(1)Except for a credit union authorized to do business in this State, a person may not:
(i)Use or advertise any name or title that contains the words “credit union” or any derivation of that term;
(ii)Represent itself as a credit union;
(iii)Conduct business as a credit union; or
(iv)Conduct business under a name or title that:
1. Indicates or reasonably implies that the person engages in or transacts the type of business conducted by a credit union; or
2. Is calculated to lead a person to believe that the business engaged in or transacted is the type of business conducted by a credit union.
(2)Any person who violates any provision of this subsection is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years or both per occurrence.
(b)This section does not apply to an association or league of credit unions, whether or not the association or league is incorporated.