Section 7-223 - Nonprofit Corporations

A credit union share guaranty corporation that is a nonprofit corporation exempt from federal taxation under § 501(c)(6) of the Internal Revenue Code is exempt from all taxes imposed by the State or any of its subdivisions under: (1) §§ 20–101, 20–104, 20–108, 20–113 through 20–127, 20–601, 20–603 through 20–609, 20–805, and 20–806, and Title 20, Subtitles 3 through 5 of the Local Government Article; (2) Title 6, Subtitle 1 of the Insurance Article; (3) The Tax – General Article; or (4) The Tax – Property Article.