Current with changes from the 2024 Legislative Session
Section 6-305 - Execution and contents of articles of incorporation and agreement(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.