Maryland Code, FINANCIAL INSTITUTIONS 7-221
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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 7-221
- 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.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
Nothing in this subtitle creates any liability on the State for the payment of any funds to any participating credit union or other person by reason of:
(1) An act or omission of a credit union share guaranty corporation; or
(2) A deficiency of a participating credit union in the event a credit union share guaranty corporation is unable to pay the deficiency.