Maryland Code, FINANCIAL INSTITUTIONS 6-908
Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 6-908
- Conviction: A judgement of guilt against a criminal defendant.
(b) (1) The Commissioner shall send a written warning to an officer, official, agent, or employee of a credit union who the Commissioner believes has violated any provision of this title.
(2) If after a warning the violation continues, the officer, official, agent, or employee may be removed as provided in § 6-907(b) of this subtitle.
(3) Unless otherwise specified, any officer, official, agent, or employee of a credit union who violates the provisions of this title is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $3,000 or imprisonment not exceeding 5 years.
(c) If the Commissioner determines that the violation under subsection (a) of this section requires immediate action to protect depositors or members, the Commissioner:
(1) May issue a cease and desist order that is effective on service; and
(2) Shall give the officer, official, agent, or employee an opportunity for a hearing to rescind the order.