Credit Unions - Mergers and Consolidations - Alteration of Voting Requirement

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.

Topics

Share