Credit Unions - Mergers and Consolidations - Alteration of Voting Requirement

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets the board of a credit union that survives a merger approve the merger even if its members do not give an affirmative vote, provided the merger plan meets specific requirements. Members of the merging credit unions must still approve the deal by a majority vote, and the state commissioner can waive the surviving union’s member vote or require another approval method. It updates Maryland’s rules for credit‑union mergers and consolidations.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Hearings

• Economic Matters — Bill Hearing
  Economic Matters · Mar 10, 2026

History

1. May 12, 2026Approved by the Governor - Chapter 506
2. Apr 7, 2026Returned Passed
3. Apr 6, 2026Third Reading Passed
4. Mar 31, 2026Favorable Adopted Second Reading Passed
5. Mar 30, 2026Favorable Report by Finance
6. Mar 19, 2026Referred Finance
7. Mar 18, 2026Third Reading Passed
8. Mar 17, 2026Second Reading Passed
9. Mar 17, 2026Favorable Adopted
10. Mar 16, 2026Favorable Report by Economic Matters
11. Feb 19, 2026Hearing canceled
12. Feb 19, 2026Hearing 3/10 at 1:00 p.m.

The 12 most recent of 14 recorded actions.

Sponsors

• Crosby · sponsor

Bill text

Opens the legislature’s own copy.

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Topics

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