Maryland Code, Financial Institutions 6-904
Maryland Code > Financial Institutions > § 6-904
Current as of: 2010
(a) An officer or official who in any way knowingly permits or participates in making a loan in violation of § 6-611 of this title 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) If a loan is made in violation of § 6-611 of this title, the credit union may recover the amount of the loan from:
(1) Any borrower; or
(2) Any officer or official who knowingly permitted or participated in making the loan.
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