Maryland § 6-806
Full text of Maryland Maryland Code § 6-806, with citation guidance and answers to common questions.
§ 6-806.
With the approval of the Commissioner, a credit union may purchase the assets or assume the liabilities of another credit union whether or not the credit unions have the same field of membership type, if:
(1) The other credit union is insolvent or likely to become insolvent;
(2) The purchase or assumption is in the best interest of the membership of the other credit union; and
(3) The purchase or assumption will not adversely affect the financial condition of the credit union that makes the purchase or assumption.
Frequently Asked Questions About Maryland § 6-806
What does Maryland Code § 6-806 cover?
Section 6-806 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 § 6-806?
A common citation format is "Maryland Code § 6-806" (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 § 6-806 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.