Maryland Code, Financial Institutions 6-904
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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. Prev | Next________________________________________________________________________
Questions & Answers: Financial ServicesSee also: Federal Regulations: Financial Services
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