WILLIAM DONALD SCHAEFER, Governor Ch. 384
Secretary a written statement of the reason for the action.]
[8-204.

The Board of Commissioners shall meet:

(1) At least once every 3 months;

(2) At the call of the Division Director; or

(3) At the call of the Board chairman.]
[8-205.

A majority of the members serving on the Board of Commissioners is a quorum.
However, the Board may not take action on any matter unless at least four members in
attendance concur.]

[8-206.

(a) A member of the Board of Commissioners may not participate in any matter
that affects any savings and loan association in which the member has any interest or
with which the member has any connection as a stockholder, member of the association,
director, mortgagor, borrower, attorney, or otherwise.

(b) A public member of the Board of Commissioners may not serve as an officer
or director of or attorney for a savings and loan association or related entity while
serving on the Board of Commissioners.]

[8-207.

Subject to the evaluation and reestablishment provisions of the Program
Evaluation Act, this subtitle relating to the Board of Savings and Loan Association
Commissioners and the Division of Savings and Loan Associations and relating to the
regulation of savings and loan associations is of no effect and may not be enforced after
July 1, 1992.]

8-303.

(a) [(1)] The Division Director shall adopt regulations necessary to accomplish
the policies set forth in § 8-102 of this title.

[(2) At least 7 days before adopting any regulations, the Division Director
shall forward the proposed regulations to the Board of Commissioners for the Board's
review, comment, and advice.

(3) The Board shall submit any comments and advice to the Division
Director within 30 days of receipt of the proposed regulations.]

(b) Without limiting the authority conferred by subsection (a) of this section,
the Division Director may adopt regulations consistent with the provisions of this title
and Title 9 of this article with respect to:

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