Maryland HB1049 alters the voting requirement for credit union mergers and consolidations.
Maryland HB1049 modifies the requirements for credit union mergers and consolidations. It allows credit unions to merge or consolidate with the approval of the Commissioner. The bill mandates that a majority of the board of each credit union must adopt a resolution declaring the merger or consolidation advisable. It also requires a vote on the merger by the members of each credit union, unless the Commissioner specifies otherwise.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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