Maryland Code, FINANCIAL INSTITUTIONS 7-112
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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 7-112
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The Corporation may require independent audits and investigations of any member to determine the member’s financial condition as it relates to insurance of share and deposit accounts. These audits and investigations shall be made at the expense of the credit union.