J. MILLARD TAWES, GOVERNOR                               207

Deputy Director shall give bond to the State of Maryland in the same
amount and upon the same conditions as that required of the Di-
rector.

161J. INFORMATION TO BE CONFIDENTIAL.

The Director and his Deputy, examiners and employees shall keep
confidential any information obtained in an examination, except
when the public duty of such persons requires them to report upon
and to take official action regarding the affairs of the association
examined. When the Director by and with the consent of the Board
deems it to the interest of the public, he may publish the results of
the examination of an association in one or more newspapers of
general circulation in the city or counties in which such association
is located or doing business. This provision shall not prevent the
proper exchange of information relating to associations, and to their
business, with the representatives of associations of this or other
states or with the representatives of the Federal Home Loan Bank
Board.

161K. CONSERVATORSHIP.

(a)  Conservator. In the event that any association shall fail or
refuse to carry out any final order, and should the Board believe that
the public interest may be served by the appointment of a conservator,
it is authorized, acting through the Attorney General, to apply to an
equity court for the city or county where the association has its
principal Maryland office for the appointment of a conservator.
Such court is authorized to appoint a conservator if it finds that
such associations ASSOCIATION: (1) is in an impaired or insolvent
condition; or (2) is in substantial violation of any valid and applicable
law or regulation; or (3) is concealing any of its assets, books or rec-
ords; or (4) is conducting an unsafe or unsound operation. The Direc-
tor or his Deputy, or examiner, or any other responsible person may
SHALL be appointed by the court as conservator, and a certified copy
of the order of the court making such appointment shall be evidence
thereof, and such conservator shall have the power and authority pro-
vided in this sub-title and such other power and authority as may be
expressed in the orders of the court. Such conservator shall endeavor
promptly to remedy the situations complained of in the petition for
his appointment and may recommend plans of reorganization, com-
position or rearrangement of the affairs of such association. Within
six (6) months of the date of such appointment, or within such time
as the court may order, such association shall be returned to its
board of directors and thereafter shall be managed and operated as
if no conservator had been appointed, or a receiver shall be appointed
as hereinafter provided. If the Director, or his Deputy, or examiner
is appointed conservator, he shall receive no additional compensation,
but if another person is appointed, then the compensation of the
conservator, as determined by the court, shall be paid by the associa-
tion. A certified copy of the order of the court discharging such
conservator and returning such association to its directors shall
be sufficient evidence thereof.

(b)  Powers of conservator. By order of the appointing court, any
conservator appointed shall have all the rights, powers, and privi-
leges possessed by the officers, board of directors, and members of

the association.