Section 7-214 - Contracts With Participating Credit Unions

(a) A credit union share guaranty corporation shall have a written contract with each participating credit union that clearly establishes the rights and obligations of the parties. (b) At least 30 days before the effective date of any material amendment to the standard written contract that is submitted under § 7-206(b) of this subtitle, the credit union share guaranty corporation shall file the amendment with the Commissioner.