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MarylandHB 10492026 Regular SessionHouse

Credit Unions - Mergers and Consolidations - Alteration of Voting Requirement

Sponsored By: Brian M. Crosby (Democratic)

Signed by Governor

Financial InstitutionsCommerce and Business -see also- ElectrComm; ForeignTr; etc.Credit UnionsMergers and AcquisitionsVoting -see also- Absentee and Mail-In Voting

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Credit union mergers need fewer member votes

Beginning October 1, 2026, members of each merging credit union must approve a merger by a majority of votes cast. Members of the surviving credit union do not have to approve, unless the Commissioner requires it. A majority of each board must first adopt a merger resolution. Each merging board must set the member vote date; the surviving board may set a vote date. At a board’s request, the Commissioner may waive a member vote for a merger or consolidation and use another reasonable approval method.

New paperwork for credit union mergers

Beginning October 1, 2026, two officers of each party must sign a merger or consolidation certificate after approvals. The certificate must list when and where the board approved the plan, the board vote, and the adopting resolution. If members approved, it must show the approval date and vote, unless the Commissioner provides otherwise. These are detailed filing rules for credit unions.

Sponsors & Cosponsors

Sponsor

  • Brian M. Crosby

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 179 • No: 0

Senate vote • 4/6/2026

Third Reading Passed

Yes: 46 • No: 0

House vote • 3/18/2026

Third Reading Passed

Yes: 133 • No: 0 • Other: 3

Actions Timeline

  1. Approved by the Governor - Chapter 506

    5/12/2026

  2. Returned Passed

    4/7/2026House

  3. Third Reading Passed (46-0)

    4/6/2026Senate

  4. Favorable Adopted Second Reading Passed

    3/31/2026Senate

  5. Favorable Report by Finance

    3/30/2026Senate

  6. Referred Finance

    3/19/2026Senate

  7. Third Reading Passed (133-0)

    3/18/2026House

  8. Second Reading Passed

    3/17/2026House

  9. Favorable Adopted

    3/17/2026House

  10. Favorable Report by Economic Matters

    3/16/2026House

  11. Hearing 3/10 at 1:00 p.m.

    2/19/2026House

  12. Hearing canceled

    2/19/2026House

  13. Hearing 3/03 at 1:00 p.m.

    2/16/2026House

  14. First Reading Economic Matters

    2/9/2026House

Bill Text

  • Enacted

    5/12/2026

    PDF

  • Third Reading

    3/17/2026

    PDF

  • First Reading

    2/9/2026

    PDF

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