Ch. 384 LAWS OF MARYLAND
[8-304.

(a) With the approval of the Secretary, the Division Director shall appoint a
deputy division director.

(b) The deputy division director serves at the pleasure of the Division Director
and is an employee of the Division Director's office.

(c) The deputy division director shall have experience in State or national
regulation or management of financial organizations, which may include service as a
bank or savings and loan association director or officer.

(d) The deputy division director is entitled to the salary provided in the State
budget.

(e) In addition to any other powers and duties set forth in this article, the
deputy director has the powers and duties of the Division Director:

(1) To the extent delegated by the Division Director;

(2) If the office of the Division Director is vacant; and

(3) If for any reason the Division Director is unable to perform the duties
of the office.]

8-306.

Before taking office, the Division Director [and deputy division director] shall
take the oath required by Article I, § 9 of the State Constitution.

8-307.

(a) The Division Director [and deputy division director] shall devote full time to
the duties of the office.

(b) The Division Director[, deputy division director,] and staff may not be
officers, directors, employees, auditors, agents of, or attorneys for, nor retained in any
manner by, nor have any ownership interest or deposit whatsoever in, any savings and
loan association or related entity.

(c) The Division Director, [deputy division director,] division staff, and
members of the immediate families of the Division Director[, deputy division director,]
and division staff, as defined in Article 40A, Section l-201(q) of the Code may not
accept, directly or indirectly, any gift, gratuity, or remuneration of any type from any
savings and loan association or related entity or from any director, officer, controlling
person, employee, or agent of any savings and loan association or related entity.

(d) (1) The Division Director, [deputy division director,] division staff, and
members of the immediate families of the Division Director[, deputy division director,]
and division staff as defined in Article 40A, Section l-201(q) of the Code may not
become indebted to any association or related entity that is subject to the jurisdiction of
the Division Director.

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