WILLIAM DONALD SCHAEFER, Governor Ch. 384

(26) Advertising; and

(27) Enforcement remedies relating to limitations on interest rates on
deposits.

(c) Without limiting the authority conferred by subsection (a) of this section,
directors and officers of savings and loan associations shall develop and implement, by
December 31, 1989, written:

(1) Real estate appraisal policies; and

(2) Procedures pertaining to the hiring and performance of real estate
appraisers.

(d) The procedures required under subsection (c)(2) of this section shall set
forth specific factors to be considered by the savings and loan association's directors
and officers, including but not limited to the real estate appraiser's:

(1) Professional education;

(2) Experience in real estate appraising; and

(3) Membership in professional appraisal organizations.

(e) Real estate appraisal policies and procedures shall be submitted by the
savings and loan associations to the division director for review and approval.

(f) The regulations adopted by the Division Director may include reasonable
requirements and limitations on the types and amounts of investments, the manner of
raising capital, and the nature and amounts of reserves, irrespective of their effects on
free economic competition.

(g) If the Division Director believes that a savings and loan association or any of
its controlling persons, directors, officers, agents, or employees has violated any
provision of this title or Title 9 that relates to the association, the Division Director
immediately shall report the violation to:

(1) The Secretary of Licensing and Regulation;

(2) The Governor; and

(3) The Attorney General, who shall take the appropriate steps to institute
an investigation or other appropriate action for the violation.

(h) The Division Director may provide advisory opinions on conflicts of interest
on request.

[(i) (1) The Division Director shall notify the Board of Commissioners of
pending decisions or actions that relate to duties and responsibilities of the Board
under § 8-203(b) of this title.

(2) The Board of Commissioners shall have a reasonable opportunity to
review and comment on the pending decisions and actions.]

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