120                                                 LAWS OF MARYLAND                                      Ch. 5

The misnomers were noted by the Majority Leader of the
House of Delegates.

10-103.

(d) (2) Of the Board members:

(i) 5 shall be elected by the member
associations, subject to the approval of the Secretary of
Licensing and [Regulations] REGULATION; and

DRAFTER'S NOTE: This corrects a misspelling in §
10-103(d)(2)(i) of the Financial Institutions Article.

The misspelling occurred in Ch. 6 of the Acts of the
First Special Session of the General Assembly of 1985.

The misspelling was noted by the Computer Division of
the Department of Legislative Reference.

10-110.

(a) (1) (i) The    moneys of the Maryland Deposit Insurance

Fund Corporation shall   be maintained in a special nonlapsing

fund, to be called     the "STATE OF Maryland Deposit Insurance
Fund".

(ii) In addition to the powers expressly
provided in this title, the Fund shall have, and through the Fund
Director may exercise to the extent of the moneys in and
available to the Fund, all the corporate powers granted Maryland
corporations under the Maryland General Corporation Law.

(2) The Fund Director shall administer the STATE OF
Maryland Deposit Insurance Fund and consult with the Board for
the purposes of:

(i) Insuring the savings accounts of member
associations;

(ii) Purchasing capital instruments, including
net worth certificates, issued by a member association to enable
that member association to qualify for federal insurance;

(iii) Reimbursing savings account holders for
loss incurred upon liquidation of a member association, up to the
amount of insurance on any savings account;

(iv) Providing funds for liquidity to or
issuing obligations against the Fund for, or acquiring securities
of or from a member association, affiliate, or acquiring entity
in an emergency as determined by the Fund Director;

(v) Making capital contributions to member
associations or entities acquiring, consolidating, or merging