Maryland SB783 alters voting requirements for credit union mergers and consolidations.
Maryland SB783 modifies the voting requirements for credit union mergers and consolidations. It allows a majority of the board of each credit union to set a date for a vote on the merger or consolidation. The merger or consolidation must align with a plan agreed upon by a majority of the board of each credit union and, unless otherwise specified by the Commissioner, approved by the members of each credit union. The bill repeals and reenacts sections of the Annotated Code of Maryland related to credit union mergers and consolidations, effective October 1, 2026.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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