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§ 6-305. Execution and contents of articles of incorporation and agreement

MD Fin Inst Code § 6-305 (2019) (N/A)
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(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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