Credit Unions - Mergers and Consolidations - Alteration of Voting Requirement

Summary

The bill lets the board of the credit union that remains after a merger decide to go forward without needing a majority of its members to approve. The change still requires board resolutions, a merger plan, and possible approval from the state commissioner, who can also waive the member vote. It affects credit unions that are merging or consolidating in Maryland.

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

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