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§ 6-901. Unauthorized use of words "credit union" prohibited

MD Fin Inst Code § 6-901 (2019) (N/A)
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(a)    (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.

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§ 6-902. Making, circulating, or sending untrue statements