WILLIAM DONALD SCHAEFER, Governor Ch. 384

(2) "Savings account" includes a savings certificate account or any other
fixed term account.

[(o)] (N) "Savings share account" means a savings account that is a share
interest in a savings and loan association.

[(p)] (O) "Savings deposit account" means a savings account that:

(1) Is a liability of a deposit association to the extent of its withdrawal
value; and

(2) Is not a share interest in a savings and loan association.

[(q)] (P) "Savings liability" means the aggregate amount of savings accounts of
savings account holders, including earnings credited to the accounts.

[(r)] (Q) "Secretary" has the meaning stated in § 8-101 of this article.

[(s)] (R) "Statutory merger" means the transfer of all or substantially all of the
assets of a corporation which transfer is:

(1) Subject to all or substantially all of the liabilities of the transferor; and

(2) Followed by the dissolution of the transferor corporation.

[(t)] (S) "Unsecured days funds" has the meaning stated in the rules and
regulations of the Federal Home Loan Bank Board that apply to savings associations
insured by the Federal Savings and Loan Insurance Corporation.

9-422.

A savings and loan association shall take title to all its investments in its own
name, except as may be permitted by regulation or order of the [Board of
Commissioners] DIVISION DIRECTOR to assign or grant a security interest in
collateral given by a savings and loan association to any State or federal government
agency or instrumentality, including the State of Maryland Deposit Insurance Fund
Corporation, a federal reserve bank, or a federal home loan bank, to secure loans to the
savings and loan association.

9-503.

The Division Director[, deputy division director,] and any examiner from, or
agent of, the Division of Savings and Loan Associations shall have access to all the
records of a savings and loan association, or related entity including the records of any
controlling person, director, officer, agent, or employee of the association or related
entity that relate to the business of the association or related entity.

9-704.

(a) A savings and loan association shall pay the expenses of operation during its
conservatorship.

(b) Except as provided in subsection (c) of this section, a savings and loan

- 1275 -