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Section 7-211 - Payment of Expenses; Assessments — Maryland Law | CourtGPT
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  2. Laws/
  3. Maryland/
  4. Financial Institutions - Title 1 - Definitions; General Provisions/
  5. Title 7 - Credit Union Share Insurance/
  6. Subtitle 2 - Credit Union Share Guaranty Corporations/
  7. Section 7-211 - Payment of Expenses; Assessments
Maryland Legal Code

Section 7-211 - Payment of Expenses; Assessments

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(a) A credit union share guaranty corporation shall pay all reasonable expenses for transportation, lodging, and meals associated with: (1) An examination required or permitted under § 7-210 of this subtitle; and (2) Any other examination or investigation conducted under this article that results in the discovery of a violation of this subtitle by the credit union share guaranty corporation. (b) (1) A credit union share guaranty corporation shall pay an annual assessment of $5,000. (2) A credit union share guaranty corporation shall pay the assessment imposed under paragraph (1) of this subsection to the Commissioner on or before February 15 after the assessment is imposed.