Maryland § 2-112
Full text of Maryland Maryland Code § 2-112, with citation guidance and answers to common questions.
§ 2-112.
(a) Except as provided in subsection (b) of this section, the Commissioner, employees of the Commissioner’s office, and other State employees acting under the supervision of the Commissioner’s office may not:
(1) Become indebted to any institution that is subject to the jurisdiction of the Commissioner; or
(2) Engage or be interested in the sale of securities of or in the negotiation of loans for others to or with any banking institution or credit union.
(b) This section does not apply to a loan that is:
(1) Made to a member of a credit union that has a membership of over 60,000 State employees; and
(2) Approved by:
(i) A credit committee approval under § 6-603(a)(1) of this article; and
(ii) The Board of Directors.
(c) The Commissioner, employees of the Commissioner’s office, and other State employees acting under the supervision of the Commissioner’s office may not:
(1) Serve as an officer, director, or committee member of a credit union; or
(2) Exercise any voting rights in a credit union.
(d) Any person who violates any provision of this section is subject to forfeiture of that person’s office or employment.
Frequently Asked Questions About Maryland § 2-112
What does Maryland Code § 2-112 cover?
Section 2-112 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 2-112?
A common citation format is "Maryland Code § 2-112" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 2-112 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.